How Closing Timeframes will be Impacted by the CFPB

Closing Disclosure Timeline - CFPB

When the CFPB rules take effect in October 2015, the closing timeframes on purchases and refinances will be impacted. As part of the final rule creating the new Closing Disclosure and Loan Estimate forms, the CFPB determined that borrowers would be better served by having a short time to review the new Closing Disclosure prior to signing their loan documents. As a result, in its rule the CFPB mandated borrowers have three days after receipt of the Closing Disclosure to review the form and its contents.

However, note that the three-day review period starts upon “receipt” of the form by the borrower. Unless some positive confirmation of the receipt of the form (i.e., hand delivery), the form is “deemed received” three days after the delivery process is started (i.e. mailing). As a result, the combination of the “delivery time period” and the “review time period” results in six business days from mailing to loan signing.

Below is an illustration of how closing timeframes will be impacted

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Timing references by day

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  • If a federal holiday falls within the Delivery and/or Waiting Periods, add an additional business day.
  • The three-day period is measured by days, not hours. Thus, disclosure must be delivered three days before closing, and not 72 hours prior to closing.
  • Disclosures may also be delivered electronically to start the Delivery Period and may be signed in compliance with E-Sign requirements.

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Ticor Restructures and Localizes Title Department


We are excited to announce a restructuring of our title department that is designed to improve the overall client experience by creating efficiencies and a more localized title officer presence in our branches across the Puget Sound region. Below are a few things we want our clients to know with regards to these exciting changes.

Greater Efficiencies & Localized Title Officer Presence

We have recently established the FNTG Centralized Production Facility in Seattle under the leadership of our own James Griffin. This facility is designed to streamline our workflow and create synergies among our back-office operations that produce our title commitments.

In conjunction with the formation of the Centralized Production Facility, Ticor’s Title Officers have been distributed to our Ticor Title branch locations across the Puget Sound area. The result is greater accessibility and a more localized Title Officer presence for our clients. For title related questions, challenges, or status requests our clients have a local, dedicated Ticor Title Officer to provide solutions.

Your Local Ticor Title Officer Contacts

Ticor Title Seattle

Reid Vance
Title Officer
Phone 206-393-0921
Fax 877-521-9846

Ticor Title Renton

Donna Roetter
Title Officer
Phone 425-255-7472
Fax 877-521-9938

Danny Osborn
Title Officer
Phone 425-873-7576
Fax 425-255-0285

Ticor Title Kent

Dave Watson
Senior Title Officer, Commercial/Residential
Phone 253-460-2921
Fax 877-521-9770

Ticor Title University Place

Dave Watson
Senior Title Officer, Commercial/Residential
Phone 253-460-2921
Fax 877-521-9770

Ticor Title Everett

Georgia Hallett
AVP/Senior Title Officer
Phone 425-586-6966
Fax 866-878-4473

Changes to the Title Commitment Exceptions

There will be slight changes to the layout of the exceptions on the Title Commitment/Title Report. You will now see the special exceptions first (Easements, Agreements, CC&R’s), followed by taxes, assessments and any monetary liens.

Questions or comments? Please share below!