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.

You won’t receive a Loan Estimate or Closing Disclosure if you applied for a mortgage prior to Oct. 3, 2015, or if you’re applying for a reverse mortgage. For those loans, you will receive two forms – a Good Faith Estimate (GFE) and an initial Truth-in-Lending disclosure – instead of a Loan Estimate. Instead of a Closing Disclosure, you will receive a final Truth-in-Lending disclosure and a HUD-1 Settlement Statement. Lenders are not required to send you these 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 are applying for a HELOC, a manufactured housing loan that is not secured by real estate, or a loan through certain types of homebuyer assistance programs, you will not receive a GFE or a Loan Estimate, but you should receive a Truth-in-Lending disclosure.

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.