The Important Dates task contains all of the dates tied to the closing.
The Closing Cannot Occur Until date appears here. Since the tolerance basis can be reset and users can re-disclose a CD this date will be impacted with the delivery of the Closing Disclosure. This field prepopulates from and also update the LE Closing Cannot Occur Until date.
The “Requested Closing Date” and “Requested Settlement Date” will populate from the Closing Request. When a “Closing (Note) Date” is entered, the “Maturity Date” and “First Payment Date” will auto calculate.
The Rescission Date field is a manually entered field and allows users to enter the scheduled rescission date of the loan.
The Settlement Date field is a manually entered field and allows users to enter the scheduled settlement date of the loan. The Settlement date is also the disbursed date.
The Closing Docs Out Date field can be automatically populated if the Forms & Docs > Closing Request > Date Institution Prepared Package field is completed (based on the setup of the site by the system administrators.)
Tip: If the Closing Docs Out Date field is setup to auto populate based on the Forms & Docs > Closing Request > Date Institution Prepared Package field, users will still have the ability to override the date and manually enter a date in that field.
If the Closing Docs Out Date field is not setup to auto populate, then upon entry of the Loan tab, the Closing Docs Out Date field will be blank and users can manually enter the date the closing docs were sent out for the closing.
The Cancelled/Postponed Date field is a manually entered field and allows users to enter the date the closing was either cancelled or postponed.
Initial Disclosure
Date Closing Disclosure Issued is the date that the disclosure was issued. This is an editable field.
Disclosure Delivery Method is the method in which the initial closing disclosure was delivered to the borrower.
The Date Borrower Received CD will auto calculate based on the Date Closing Disclosure Issued and Disclosure Delivery Method.