Closing Disclosures & Third Parties
When it comes to the Closing Disclosure (CD), things can get a little confusing when third parties get involved. While it’s perfectly acceptable to have a borrower’s CD and a separate seller’s CD, you can’t have a borrower’s CD completed by the creditor and a different version completed by a title company or attorney. As far as the borrower is concerned, there is to be one version of the CD. And, regardless of who completes the borrower’s CD, the creditor is ultimately responsible. Having multiple versions of the same thing only creates confusion for the borrower, which could go badly if you were to end up in court.
Jerod explains more in the video.
Published
2025/03/21
Jerod Moyer
Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru. Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports-related!