Ticor Title is pleased to bring you the most up-to-date information regarding the changes coming from CFPB. In our most recent update, we bring you a first-hand look at the different sections of the Closing Disclosure and explanations of each page.
Important facts to note:
• The new form is 5 pages long
• New form replaces TILA and HUD-1
• One Closing Disclosure is required for each loan
• Charge descriptions on both the Load Estimate and Closing Disclosure must match