New Closing Disclosures

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Question:

After closing on a real estate, if the fee charged for an attorney or abstract is under what we cut the check for, do we need to issue a new closing disclosure to the customer? I understand they will receive the refund, but not sure on the CD part.

Answer:

by Randy Carey: Yes. A post-closing CD would be issued showing the lower fee and should be delivered along with the refund check.

Answer:

by John Burnett: If the change affects what the borrower actually pays in closing costs, you need to provide an updated CloD. Remember that the Issue Date on the revised CloD is the date on which the revised CloD is delivered or placed in the mail.