
Closing Disclousure Document- Example- Notary Training Sample
What is a closing Disclosure Document?
A Closing Disclosure is a five-page form that provides final details about the mortgage loan you have selected. It includes the loan terms, the signers projected monthly payments, and how much they will pay in fees and other costs to get the mortgage (closing costs).
The Closing Disclosure allows the signers to compare their loan terms and costs to the terms listed in the Loan Estimate form you were given at the beginning of the process.
Like all mortgage forms, the Closing Disclosure can be overwhelming to review, especially if they are not sure what to look out for. Instead of glossing over what you don’t understand, take the time to review everything the form covers. That way, you’ll have no doubts when you’re asked to help the signers to sign.
A good real loan signing agent can also help point out the items in a Closing Disclosure. This is just one of the many reasons to always train and become familiar with the training materials.