Comment for 1026.38 - Content of Disclosures for Certain Mortgage Transactions (Closing Disclosure)
Section 1026.38(r)(4) requires the disclosure of the primary contact for the consumer.
- 1026 (Regulation Z)
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Section 1026.38(r)(4) requires the disclosure of the primary contact for the consumer.
certain transactions, creditors may use the alternative rule described in comment 19(b)(2)(vi)-1 for disclosure
On the Closing Disclosure the creditor must label the corresponding services and costs disclosed under
The applicable disclosure to be referenced corresponds to the label on the Closing Disclosure under which
Such a creditor discloses “YES” as the answer to “Can this amount increase after closing?”
The requirement to provide the Loan Estimate and Closing Disclosure under § 1026.19(e) and (f) does
appear on its own page “2a,” but the Other Costs section must appear on the same page as the Total Closing
Until the Bureau issues a version of the special information booklet relating to the Loan Estimate and Closing
otherwise be included as components of the total of payments if such charges are designated on the Closing
agrees to complete only the portion of the disclosures required by § 1026.19(f)(1)(i) related to closing
by disclosing the total of such fees under the heading “Inspection and Handling Fees Collected After Closing
The remainder of the Closing Disclosure should be completed taking into account adjustments and charges
the Loan Estimate under § 1026.37(g)(4), however, they may be required to be disclosed on the Closing
portion of construction costs, or amounts that will be paid by third parties and will be disclosed on the Closing
Under § 1026.38(j)(2)(v) in the summaries of transactions table and the seller-paid column of the closing
retained might include a settlement agent “flow of funds” worksheet or other written record or a creditor closing
Revised Loan Estimate may not be delivered at the same time as the Closing Disclosure.
loans assumed or taken subject to that will be disclosed under § 1026.38(j)(2)(iv) (excluding any closing
In some cases, a Loan Estimate must be provided under § 1026.19(e) before provision of the Closing
mortgage insurance must terminate after the 130th scheduled monthly payment, and the creditor collects at closing
particular service, was based on the best information reasonably available to the creditor at the time the disclosure