Matt Padgett of Keystone Mortgage in Knoxville, Tennessee wants to talk to you about loan closing disclosure.
Hi, Matt Padgett with Keystone Mortgage.
Just wanna give you a quick update on the changes we’ve seen over the last couple of months with trim. These are changes that have come in and pushed down by the federal government to us. Major difference in closing. You now have what is issued as called a closing disclosure. We used to have a HUD-1 settlement statement and you would get that about 24 hours per closing. However now we have what’s called a closing disclosure. You must get this three days before closing and you must acknowledge that you have received this. One thing to keep in mind, this closing disclosure will most likely change from the time you get it through closing. So it’s giving you three days to have it per to closing but there’s gonna be little changes here and there. Don’t worry about those small changes, you’ll totally know the day before closing what the actual numbers are gonna be. This is what we’ve seen so far. We’ll keep you updated.
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