What should I do if I do not get a Closing Disclosure three days before my mortgage closing?

Your lender is required to send you a Closing Disclosure that you must receive at least three business days before your closing. It’s important that you carefully review the Closing Disclosure to make sure that the terms of your loan are what you are expecting.

Sign your closing documents only after you have carefully reviewed all of the terms on the Closing Disclosure and compared them to your Loan Estimate. Make sure that there are no errors and that you understand the reason for any increase in fees or discrepancies. You should review the Closing Disclosure before closing, as there will be many other documents to review at the closing itself. Remember there is no time limit at closing, so don’t feel pressured. Take your time to review documents and ask any questions you have.

Note: You will not receive a Loan Estimate or Closing Disclosure if you are shopping for:

• A reverse mortgage
• A home equity line of credit (HELOC)
• A manufactured housing or mobile home loan not secured by real estate
• A subordinate loan through certain types of homebuyer assistance programs

For these kinds of loans, you should receive Truth-in-Lending disclosures. If you are shopping for a reverse mortgage, you will also receive a Good Faith Estimate (GFE) and a HUD-1 or HUD-1A Settlement Statement. Lenders are not required to send you these final closing documents in advance of closing. However, if you request to see a copy of your HUD-1, you can review it at least one business day before closing.

If you have a problem with your mortgage closing process, you should discuss the problem with your lender. You can also submit a complaint to the CFPB online or by calling (855) 411-CFPB (2372). We’ll forward your complaint to the company and work to get you a response – generally in 15 days. You may also wish to consult an attorney about your problem.

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