Who prepares the borrower’s Closing Disclosure (CD) form?
Who prepares the borrower’s Closing Disclosure (CD) form?
The Rule grants the creditor the option of preparing the CD or sharing that responsibility with the settlement agent. TRID Comment 19(f)(1)(v)-3 states: “If a settlement agent provides disclosures...in the creditor's place, the creditor remains responsible…for ensuring that the requirements of [12 CFR] § 1026.19(f) have been satisfied.”
The Rule grants the creditor the option of preparing the CD or sharing that responsibility with the settlement agent. TRID Comment 19(f)(1)(v)-3 states: “If a settlement agent provides disclosures...in the creditor's place, the creditor remains responsible…for ensuring that the requirements of [12 CFR] § 1026.19(f) have been satisfied.”
12/18/2015