TRID Forms – The Loan Estimate and Closing Disclosure – ON-DEMAND WEBINARS

Date Recorded: June 29, 2022
Presented By: Anetria Cohen, Vice President and Senior Consultant, ProBank Austin

A two-hour webinar focusing on the content of the Loan Estimate and Closing Disclosure

Creditors are required to provide a consumer who applies for a closed-end loan secured by real property with a Loan Estimate and Closing Disclosure. A Loan Estimate (LE) is a disclosure that is provided early estimate of the transaction’s terms and costs in order to help the applicant decide whether they want to choose this (or another) loan. A Closing Disclosure (CD) provides a final disclosure of the transaction’s terms and costs.

The information disclosed in these forms are important for different reasons, but, including, of course, the possibility of violations and restitution. Although financial institutions depend heavily on software to create disclosures, it is critically important for those who prepare and provide the disclosures to understand them, and to be able to question a disclosure when “it doesn’t look right.”

This webinar will discuss in detail the information that creditors are required to disclose in the Loan Estimate and Closing Disclosure, quickly reviewing relatively straight-forward disclosures while spending more time on those disclosures that are more particular or complicated.

HERE IS WHAT YOU WILL LEARN:

• The content of the LE and CD
• What information is required in the LE and the CD, and what information is not
• How to disclose odd transactions – adjustable rate and balloon loans
• What information is required to be provided to the borrower and to the seller