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.