During the course of our annual Consumer Direct Loan review, we noted a loan on which the Late Payment language was inadvertantly left off on the Disclosure Statement. We are investigating but still don't know how this happened. My question is this, should we redisclose this to the borrower? The late payment language IS included on the Note in the loan file. This loan closed in May of 2022.

No - you remove late charges from the loan so that you never charge them. You cannot correct that sort of disclosure error.