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 Guide to the Loan Estimate and Closing Disclosure CFPB 2018-2025

2018-2025 Form

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new forms and new rules from the Consumer Financial Protection Bureau go into effect soon no before you close the new closing disclosure form replaces the Truth in Lending Act form or Tila and the hud-1 settlement statement creditors are ultimately responsible for preparing and distributing the new closing disclosure but they can delegate this responsibility to a settlement agent the first page of the closing disclosure is similar to the loan estimate and lists the loan terms interest rate and prepayment penalties page 2 provides a breakdown of all the closing costs details and clearly outlines whether each charge is paid by the seller the borrower or someone else page 3 provides a table summarizing all the costs required to close the loan compares these charges to the estimates disclosed on the loan estimate form and describes any discrepancies between the two page 4 discloses details about the terms of the loan and page 5 summarizes the total payments finance charge amount financed t

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