10 Questions to Ask Your Lenders About TILA-RESPA Integrated Disclosures

1. Will you prepare/deliver the Closing Disclosure (CD) to the borrower? Is so, how and when?
2. If you prepare the CD, when’s the deadline for me (the settlement agent) to send you the information needed to prepare the CD?
3. What will the process be to send the completed CD to the closing company for approval before delivering it to the consumer?
4. How will we send the information and documents to each other?
5. How will you make changes to the CD after delivery to the borrower before, during, and after consummation?
6. How can I help move the process along to the interested parties (real estate agent, mortgage broker, seller, buyer)?
7. When will the closing company receive your documents and instructions for the closing?
8. Do you require any background information from me or Knutson+Casey before closing?
9. Will your funding procedures change after August 1st, 2015?
10. Where the Rule requires the inaccurate disclosure of title premiums on the CD due to the difference between what the Rule mandates and the rate in effect in Minnesota, when will you want a copy of the ALTA Settlement Statement that reflects the correct amounts returned with the documents?

FOR ANY ADDITIONAL QUESTIONS, PLEASE CONTACT KNUTSON+CASEY.