The District of Columbia (DC) requires a final disclosure of financing terms be provided to the borrower(s) 72 hours prior to loan closing. The DC Final Financing Agreement must reflect the final loan terms stated on the Closing Disclosure.
The following applies to the DC Final Financing Agreement:
- Homebridge will issue the Agreement along with the Initial Closing Disclosure 72 hours prior to loan closing
- If there are ANY changes to the loan terms the DC Final Financing Agreement must be reissued to the borrower, with the updated terms, and the 72 hour waiting period begins again
NOTE: The 72 hour waiting period is required even if the changes to the CD do not require a waiting period
- The DC Waiver of 72 Hour Notice, allows the borrower to waive the 72 hour waiting period, however the Waiver may only be used in the event loan closing cannot be delayed. The Waiver will not be provided to the borrower(s) in any other circumstance. Homebridge management review and approval is required to offer the waiver
If you have any questions, please contact your Account Executive.