The Closing Disclosure is required by Regulation Z (the Truth in Lending Act) and by the Real Estate Settlement Protection Act (RESPA). The document discloses the features, costs, and risks of the loan being applied for and provides the interest rate, margin, index, Annual Percentage Rate (APR), total interest paid and calculated costs to close.  

These disclosures provide a payment summary, subsequent increases and property related costs, and provides the lender, settlement agent, and real estate broker contact information. 

This documentation is included with the loan package provided by Loan Doc Prep and is required when the loan requested is: 

• Consumer purpose
• Closed-end
• Secured by real estate

The loan CANNOT CLOSE until:

• The 7th business day after the Loan Estimate was mailed or delivered, and either 
• The 4th business day after the Closing Disclosure was provided in person, or
• The 7th business day after the Closing Disclosure was mailed or delivered.

Loan Doc Prep mails the disclosure to the client. If loan documents have been signed via IMM eSign, document will be automatically transferred to the loan file.

Real estate secured loans cannot be processed through eSign-Web.

If all documents are wet signed, send to loan servicing in the designated bag.