Escrow & Title
In a Tennessee closing, the 'HUD-1 Settlement Statement' has been replaced by the:
ALoan Estimate
BClosing Disclosure✓ Correct
CTruth-in-Lending Statement
DGood Faith Estimate
Explanation
The TRID (TILA-RESPA Integrated Disclosure) rules replaced the HUD-1 Settlement Statement with the Closing Disclosure for most residential mortgage transactions. The Closing Disclosure must be provided at least 3 business days before closing.
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