Florida Closing Disclosure Form
In October 2015, the Consumer Finance Protection Bureau implemented a new regulatory closing document for all federally regulated loan closings on residential properties. The form previously known as the “HUD” was discontinued. The new form known as the Closing Disclosure, often referred to as the “CD,” itemizes all closing-related costs on a five page document in the form of a comprehensive disclosure. A lender must provide the final Closing Disclosure form to you three days prior to closing. This allows borrowers sufficient time to review it and check the figures against the original disclosure the borrower received at the start of the loan process.
Here is the step-by-step process of what borrowers should expect throughout their loan process: