For most real estate professionals, TRID is the least understood big regulation in history probably and it starts October 3, 2015!

Can a lender, settlement agent, or mortgage broker provide a real estate agent a copy of a buyer’s Closing Disclosure? 

Believe it or not, the answer is NO!

TILA/RESPA rule clearly states that the settlement agent, creditor, or broker CANNOT give a copy of the Closing Disclosure to the Real Estate agent.  Only the borrower can give the agent a copy.  The reason is there is non-public information on the disclosure.

Who is responsible for providing the seller’s copy of the disclosure to the sellers?

As a technical requirement, the settlement agent is responsible for providing the seller’s copy and can meet that requirement by providing a copy of the borrower’s Closing Disclosure.  If the settlement agent creates a separate seller’s transaction Closing Disclosure, the settlement agent must also provide a copy of the disclosure to the creditor.

Who is responsible for preparing the final Closing Disclosure?

The lender or the settlement agent/closing attorney may prepare the Closing Disclosure BUT the lender is responsible for ensuring that the Closing Disclosure is fully accurate so you will see most lenders will prepare this since it is their neck on the line.  See a sample of the Closing Disclosure here

Keep in mind that these interpretations of TRID are not to be portrayed as legal advice.