Uniform Closing Instructions Comments
A Task Force of MBA, American Land Title Association (ALTA) and American Escrow Association members have developed proposed standard Uniform General and Specific Closing Instructions. The General Instructions are intended to provide the general requirements for lenders and closing personnel for all single family residential mortgage transactions. The Specific Instructions provide a standard format for the details and requirements of each specific transaction.
Currently, closing instructions vary widely. The organizations believe that the use of standard instructions by the industry would markedly increase efficiency and save training and compliance costs, resulting in significant cost savings to industry and consumers.
MBA, ALTA and AEA are now seeking member comment on the proposed instructions by January 30, 2008. Please don’t miss this opportunity to provide any suggestions. The task force hopes to take into account comments and make these instructions available early next year.
Uniform Closing Presentation
Please click here to download the LIVE Online Workshop Presentation
Uniform Closing Instructions
Please click here to read the General Uniform Closing Instructions
Please click here to read the Specific Uniform Closing Instructions
Questions and Comments Period
closes January 30, 2008
You may send your comments to any of the following:
1. Mortgage Bankers Association at firstname.lastname@example.org
2. American Land Title Association at email@example.com
3. American Escrow Association at UCI@a-e-a.org