3.100- What Information must be included on a Closing Disclosure?

First and foremost a Closing Disclosure (CD) is made of five pages and is a document that sets forth significant terminal details revolving around the chosen mortgage loan hence it subsumes the terms of the loan under consideration, the reckoned payments per month and lastly the other costs associated to the loan in order to acquire the loan itself. Closing costs is pertinent in this case. Analogous to the Loan Estimate, the three business days rule is also applicable here. We must appreciate that RESPA necessitates the need for this document.


Besides the above elements, the CD also constitutes transactions’s summaries, loan disclosures, loan computations, a calculating cash to close table, contact details, confirm receipt, other disclosures etc.