This second in a four-part White Paper series details the features of the Closing Disclosure. I also provide an Action Plan.  

Accompanying this article is a Closing Disclosure Table that may be used for certain itemized categories and action requirements. The table outlines the types of areas of interest in many of the routine requirements of the Closing Disclosure process. Rather than a before-and-after, comparative analysis, the Closing Disclosure Table provides the requirements with the compliance effective date of August 1, 2015.

The first part of the series introduced the RESPA/TILA Integration and treated the numerous features of the Loan Estimate. The third part will be a detailed analysis of the Loan Estimate. The fourth part will provide an in depth scrutiny of the Closing Disclosure.

In the other articles of this four-part series, I will provide charts, tables, form specimens, and annotations for applicable categories and action requirements relating to the RESPA-TILA Integration.  

The full series, and accompanying charts, tables, and form specimens, are being published in National Mortgage Professional Magazine. The December edition contains a complete section devoted to the Closing Disclosure Table.

As a courtesy to our subscribers, we have arranged a free subscription to the e-Edition of the National Mortgage Professional Magazine.

I hope you enjoy the White Paper and accompanying Closing Disclosure Table.

Best wishes to our clients, colleagues, and subscribers for a joyous Holiday Season and New Year!