Category: Business Operations|Individual Tax|Real Estate

  • New Escrow Closing Disclosure (CD) Replaces Settlement Statement (HUD-1)

    New Escrow Closing Disclosure (CD) Replaces Settlement Statement (HUD-1)

    New escrow disclosure forms have been introduced in the hope that they will help simplify the complex process of taking out a loan.  The Consumer Financial Protection Bureau (CFPB) refers to the new disclosure forms as the “Know Before You Owe” forms.  The new disclosure rules grew out of the Dodd-Frank Act requirements that addressed two sets of…