Signing agent correctly answered to pass 2023 rated A+

Signing agent correctly answered to pass 2023 rated A+Notice of right to cancel *critical document - correct answer This is your notice of right to cancel. Your loan includes a rescission option, this allow you to cancel the transaction within a specified time frame Closing Disclosure *critical document *Present this document to the borrowers first - correct answer This is the Closing Disclosure. Your lender should have sent you this in advance. It itemizes all closing costs. Page 1 includes loan amount, interest rate, projected monthly payments, closing costs and cash to close. The remaining pages include closing cost details such as loan and other costs, payoffs and payments, cash to close calculations, disclosures, loan calculations and contact information. Hud 1 Settlement Statement critical document Replaced by closing disclosure - correct answer The HUD/Settlement Statement itemizes all closing costs; on pages 1 and 2 items that appear on this statement include real estate commissions, loan fees, points, payoffs and escrow amounts. Page 3 of the Settlement Statement is a comparison of the fees disclosed on the Good Faith Estimate (GFE) to the actual costs as listed on the settlement statement/HUD. The bottom portion of Page 3 shows the loan terms. The loan amount, rate, term, principal and interest payment as well as total payment are at the bottom. Trust in lending disclosure critical document replaced by closing disclosure - correct answer This is the Truth in Lending statement. It will include the following information: • The annual percentage rate (APR) • The finance charge