Settlement Procedures Flashcards
1
Q
Settlement
A
Signing of paperwork and delivered.
All docs are cleared and funds moved
2
Q
Closing
A
Loan funds have been authorized.
Recording has taken place
3
Q
Page one closing disclosure
A
Loan information
loan terms (amount piti, insurance, prepayment penalty)
Projected payments (PMI, escrow , total payment)
Costs at closing
Cash to close
4
Q
Page 2
A
Disclosures of closing costs
Origination charges
