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The closing process as we know is about to change! As of August 1st, 2015 Sellers and buyers will be signing a 6 page document called a “Closing Disclosure” vs a 3 page HUD Settlement Statement that is used now. Created by the CFPB (Consumer Financial Protection Bureau) this new document is more transparent and seemingly easier for your client to read. Click on this link to read more about the “final ruling”
www.consumerfinance.gov/regulations
To see a copy of the new Closing Disclosure click this link http://files.consumerfinance.gov/f/201311_cfpb_kbyo_loan-estimate.pdf
For any questions concerning this upcoming change contact any one of your Continental Title Company closers or processors.