Q: Does a creditor have to use the Bureau’s Closing Disclosure form?
A: Generally, yes. For any loans subject to the TILA-RESPA Rule that are federally related mortgage loans subject to RESPA (which will include most mortgages), an appropriate blank Closing Disclosure form (H-25(A) and (H) through (J) and H-28(F) and (J)) is a standard form, meaning creditors must use an appropriate blank form, including all of its elements such as font sizes, bolding, shading, and underscoring. (§ 1026.38(t)(3)(i)). (See also § 1024.2(b) for definition of federally related mortgage loan).
For other transactions subject to the TILA-RESPA Rule that are not federally related mortgage loans, an appropriate blank form is a model form, meaning creditors are not strictly required to use the form, but the disclosures must contain the exact same information and be made with headings, content, and format substantially similar to an appropriate blank form. (§ 1026.38(t)(3)(ii))
Note: Use of an appropriate Closing Disclosure sample form(H-25(B) through (G) and H-28(G) and (H)) for federally related mortgage loans or non-federally related mortgage loans provides a safe harbor if properly completed with accurate content.