Thursday, October 23, 2008

Borrower's Right to See the Final Settlement Statement

Q: How long before a closing must a mortgage broker give a borrower the final settlement statement (HUD-1)?

A: Under federal law, the borrower has a right to request the settlement statement 24 hours before the closing. Under Colorado law, the mortgage broker must provide the borrower with the HUD-1 one day before the closing, unless the borrower waives their right to receive it.

No comments: