Finance
In Hawaii, what is the 'Closing Disclosure' used for?
AA. Disclosing the agent's commission to the client
BB. Providing final itemized accounting of all loan terms, closing costs, and funds due at closing✓ Correct
CC. Disclosing the seller's motivation for selling
DD. Confirming the title insurance policy has been issued
Explanation
The Closing Disclosure (required under TRID) provides borrowers with the final actual terms of their loan and all closing costs and credits at least 3 business days before closing.
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