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Your Rights And Rules For Closing Disclosures

Thursday, September 16, 2021   /   by Aaron Marasigan

Your Rights And Rules For Closing Disclosures

blog, By Brenda Bianchi

The Closing Disclosure documents the actual terms of your loan transaction. You should receive it no later than 3 business days before consummation. It must be in writing – paper or digital.

If the loan terms or costs change prior to consummation, your lender must provide a corrected disclosure AND an additional 3-business-day waiting period until loan consummation.

Waiving the 3-day waiting period is only permitted in certain circumstances, and only when the waiting period would cause a bona fide personal financial emergency.