The Closing Disclosure (CD) is a critical document in the final stages of a real estate transaction, providing a detailed breakdown of all the costs associated with the closing. For both realtors and lenders, a thorough understanding of the CD is paramount to ensuring a smooth and transparent process for their clients.
Realtors should review the CD with their buyer clients well in advance of the closing date, ensuring they understand all the charges, including loan origination fees, appraisal fees, title insurance premiums, taxes, and other closing costs. Identifying and addressing any discrepancies or questions early on can prevent last-minute surprises and delays at the closing table.
Lenders are responsible for preparing and delivering the CD to the borrower within the mandated timeframe. They must ensure the accuracy of all loan terms and closing costs. The CD serves as a final confirmation of the financial aspects of the loan and the transaction.
Tier 1 Title works diligently to provide accurate and timely information to both realtors and lenders to facilitate the preparation of the CD. We are committed to transparency in our fees and are always available to clarify any aspects of the CD for all parties involved, fostering a clear and confident closing experience.
