Washington Buyer and Seller Guide for Title and Escrow

50 © Ticor Title Company Page 3. The third page displays a Calculating Cash to Close table similar to the table on Page 2 of the Loan Estimate. This table provides a comparison to the charges disclosed on the Loan Estimate. The rest of the page shows the summaries of the borrower and seller costs and credits, similar to the current Page 1 of the HUD-1 Settlement Statement. Page 4. The fourth page contains disclosures about other terms of the loan, including: • Whether the loan is assumable • If the loan has a demand feature • May impose a late payment fee and when it may be incurred • If the loan has a negative amortization feature • Whether the lender will accept partial payments • Informs the borrower the lender will have a security interest in their property. The page also includes a table describing what charges will be impounded and how much will be collected each month. Finally, the page includes adjustable payment and interest rate tables if they are applicable to the loan. THE NEW CLOSING DISCLOSURE EXPLAINED