It's probably related to timing. In today's environment, while we may have tentative underwriting approval, we often don't get "clear to close" until just a day or two (or sometimes even an hour or two) prior to closing. With new requirement of having to have a closing disclosure in the borrower's hands 3 business days before closing, institutions are either going to have to adjust their process to get clear to close sooner in the process, or are going to have to provide a CloD prior to clear to close. Our shop is working on the former, not the latter.
Jim Bedsole, CRCM, CBA, CFSA, CAFP
My posts - my opinions