Q: The HUD-1 has a comparison chart to show the applicable tolerance levels and how the charges compare. Where is the equivalent chart on the Closing Disclosure?
A: There is no chart on the Closing Disclosure equivalent to the HUD-1 comparison chart. The creditor is responsible for tracking charges off sheet to ensure that the amounts disclosed on the Loan Estimate were made in good faith and that the charges at closing do not exceed the applicable tolerances. If provided in the form of a lender credit, a cure for a tolerance violation should be itemized in a manner as shown in form H-25(F) of appendix H.
For more information about providing cures for a tolerance violation, see section 12.10 below (in the Bureau’s compliance guide).