I was at one seminar about a month ago. The instructor indicated the new "Closing Disclosure" did not "close" the loan. He indicated that Title Companies were going to use the pre 2010 Settlement Statement at the closing table to actually "close" the loan.
The CFPB Closing Disclosure would also be provided to both buyer and seller.

My investor is requiring the LE, and Closing Disclosure AND the Settlement Statement in order to purchase a loan.

Other lenders in my small town have indicated they will issue the closing disclosure and the Title Company will use the "Old HUD".

Today in another webinar...the instructor indicated that Closing Disclosure "Does" close the loan and advised against using the old HUD as it may incur a violations. Can anyone provide clarification?

ALTA (the American Land Title Association) has developed a "settlement statement" to be used to track all funds changing hands at the closing and obtain needed signatures agreeing to disbursements. They do need signoff on disbursements and that cannot be done on the closing disclosure.

http://www.alta.org/cfpb/documents.cfm

So...I wonder if I do an in-house home equity and just close in-house in lieu of using the title company, would I have to use one of these alternative closing disclosures to authorize the disbursements?

I don't see why you would. As long as the bank has the records it needs and reviews disbursements with customer, you should be fine. You could use it, or a simple types statement, if you want the customer to sign something saying "yes, those are the payments..send them out".

The title industry developed the form cited above because they need industry standards.

Some state laws require title companies to obtain signoff. The bank would not ordinarily be subject to those rules.

Some LOSs also have a disbursement form for sign off - i.e., Laser Pro