National Business Institute Webinar: Loan Estimates and Closing Disclosures: New Information and Requirements
Benjamin Olson and Brandy Hood spoke on the National Business Institute’s webinar, titled “Loan Estimates and Closing Disclosures: New Information and Requirements,” on Friday, May 8, 2015.
Minimizing Clients' Risks in Mortgage Transactions
The Consumer Financial Protection Bureau has introduced two new mortgage disclosure forms that will go into effect on August 1, 2015. The Loan Estimates and Closing Disclosures are intended to help consumers make informed decisions when choosing a mortgage and avoid costly surprises at the time of a closing. How do changes to delivery and timing now differ? What revisions and corrections are permitted? What transactions are covered and excluded? Join faculty as they go through the details you need to know to help your clients through closings with confidence and minimal risk.
- Learn when the Loan Estimates are to be sent to the consumer and what must be listed on the form.
- Find out when the Closing Disclosure form is sent to the consumer and what loan terms and costs are listed on the form.
- Prevent loopholes, understand what written estimates need to look like under the new requirements.