We've assembled this guide to walk you through all the elements of a standard mortgage disclosure to help make sure you understand what a mortgage disclosure is, what to look for, and what everything means so there's no confusion when it's time to sign. Of course, if you're a first-time homebuyer in Hawaii, these disclosure documents may appear overwhelming at first glance, especially if you're not sure what to look out for. Mortgage disclosures, which include an initial loan estimate and a closing disclosure, list the costs associated with your mortgage and the terms of your loan you'll want to compare both documents when you receive them to make sure everything is what you expected. This means it's important to carefully read all documents sent by your lender-particularly the mortgage disclosures. Once you sign, you're bound to fulfilling the terms of that contract. Therefore, a loan closing on a Tuesday requires the Initial CD be e-signed by Friday to satisfy the three-day waiting period.If you're in the process of buying a home in Hawaii, it's crucial that you understand-and agree to-all the terms of your mortgage loan. (Monday, Tuesday, and Wednesday)Įxample 2: It’s important to note that Sundays and federal holidays do not count as “waiting days”. A delay in signing the Initial CD will result in a delayed closing.Įxample 1: A loan closing on a Thursday must have the the Initial Closing Disclosure e-signed before midnight on Monday to satisfy the three-day waiting period. All parties on the loan (and in some cases even spouses that aren’t on the loan) must e-sign the Initial CD to close on time.įederal law mandates the Initial Closing Disclosure be signed three business days before closing. Once the initial underwriting approval is issued the Processor will send a request to the Disclosure Team to create the initial Closing Disclosure (CD). typically it’s the last four digits of your social).
#Closing disclosure pages password#
To access and sign the CD you will be required to you use the same login and password that you created when you e-signed the initial loan package (i.e. The CD email will resemble the initial loan disclosures that were sent at the beginning of the mortgage process. The Mortgage Mark Team is still your point of contact, not the Disclosure Team. The Closing Disclosure (CD) will be emailed to you from our Disclosure Team. The Disclosure Team emails the Initial CD Docs to Title / Final CD Issued (1-2 days).Sign the Initial Closing Disclosure (CD) (Immediate) Initial Underwriting Approval (2-3 days).Processing / Credit Approval (2-3 days).Loan Packaging & Lender’s Disclosures (1-2 days).The LE and CD similar so everything should look familiar when the CD is issued. The LE is sent in the beginning stages of the mortgage loan process during the loan packaging & lenders disclosures stage. It’s worth noting that the Closing Disclosure’s predecessor is the Loan Estimate (LE). The Initial CD is the most time-sensitive document throughout the mortgage loan process because it requires e-signatures a minimum of three days before closing. There will be two Closing Disclosures issued during the process: the “Initial CD” and the “Final CD”. The subsequent pages itemize the closing cost. The first page of the Closing Disclosure contains the loan’s terms and provides a breakdown of the monthly mortgage payment. The lender creates the initial CD after the initial underwriting approval. “the CD”) is the mortgage document that outlines all the details of the financing.
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