[srhodes]

Our question is regarding the Closing Disclosure. Can the ‘Closing Date’ and ‘Disbursement Date’ reflected on the Closing Disclosure be input as the same date on a rescindable transaction when interest is being charged from the loan date, even though funds are not actually being disbursed until the rescission period ends?

We are asking this question because our financial institution collects interest from the loan date. If we input the actual disbursement date (in the case of a rescindable transaction) on the Closing Disclosure, LaserPro is going to calculate interest from the disbursement date, not the loan date. So, our disclosures would not reflect interest calculated from the correct date.

[rcooper]

The disbursement date would be the date you disburse the proceeds. You should probably talk to LaserPro.

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