Closing Disclosure Preparation Requirements
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Address common and situational questions regarding the closing disclosure.Everyone involved in the residential mortgage business should be familiar with TRID and the closing disclosure mandated by TRID. This topic will go through the background of TRID, and the loan estimate and closing disclosure. We will talk about the connection between the loan estimate and the closing disclosure. Finally, we will do a line by line analysis of where closing figures are placed on the buyer/borrower and seller closing disclosures. The use of the American Land Title Association Settlement Statement will also be discussed. This material will give everyone a strong understanding of the closing disclosure and how it is completed.
Michael P. Krone, Esq., Kriss Law
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