Escrow & Title
Which Wisconsin closing document itemizes all charges and credits for both buyer and seller?
AThe title commitment
BThe Closing Disclosure (CD)✓ Correct
CThe HUD-1 (still used in some non-federally related transactions)
DThe Real Estate Transfer Return
Explanation
The Closing Disclosure (CD), required under TRID (TILA-RESPA Integrated Disclosure) for federally related mortgage loans, itemizes all settlement charges and credits for the buyer and seller. For non-TRID transactions, a HUD-1 or similar settlement statement may be used.
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