Escrow & Title
What is the purpose of a Closing Disclosure under TRID rules?
ATo provide credit approval
BTo itemize all charges and credits to buyer and seller at closing✓ Correct
CTo transfer title
DTo confirm property insurance
Explanation
The Closing Disclosure itemizes all closing costs, loan terms, and financial transactions for both buyer and seller. Under TRID rules, buyers must receive it 3 business days before closing.
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