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51

Page 5.

On the fifth page under the heading “Loan Calculations” the consumer will find

the:

Total of payments over the life of the loan

Finance charge

Amount financed

Annual Percentage Rate (APR)

Total interest percentage information

Under “Other Disclosures” the consumer will find information about the:

Appraisal (if applicable)

Contract details

Liability after foreclosure

Refinance information

Tax deductions

At the bottom of the page is the Contact Information and Signature lines. If signature lines are included, the following disclosure is

used: “By signing, you are only confirming that you have received this form. You do not have to accept this loan because you have

signed or received this form” indicating a signature is intended only as a receipt of the form.

All of these forms, dates, rules, and laws can seem like a lot to take in. The good news is that we’ve done our homework and are

here to help you understand what you need to know before you close.

THE NEW CLOSING DISCLOSURE EXPLAINED

Timing References by Day

Note:

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.