Who is responsible for providing the Closing Disclosure to the buyer in a transaction?

In a real estate transaction, the responsibility for providing the Closing Disclosure primarily lies with the lender. This document outlines the terms of the loan, details about the transaction, and itemized closing costs, providing transparency to the buyer about the financial aspects of the deal prior to the closing.

The lender plays a crucial role in preparing and delivering the Closing Disclosure at least three days before the closing date, allowing the buyer time to review the information. This requirement ensures that buyers are fully informed about the costs associated with their mortgage and the overall transaction.

While the title company and real estate agents may assist in certain aspects of the closing process or facilitate communication between parties, it is the lender who has the primary obligation to provide the Closing Disclosure as mandated by the TILA-RESPA Integrated Disclosure Rule. The buyer themselves do not provide this document, as it is a formal requirement that must be fulfilled by the lender to comply with regulatory standards.