Mortgage Disclosure
/ˈmɔːrɡɪdʒ dɪsˈkloʊʒər/
Definitions
- (n.) The statutory obligation to reveal key terms, conditions, and costs associated with a mortgage loan to the borrower before consummation.
The lender complied with the mortgage disclosure requirements before finalizing the home loan.
- (n.) The documentation provided to a borrower that details the principal amount, interest rate, fees, and other costs of a mortgage loan.
She reviewed the mortgage disclosure carefully to understand the loan's interest rate and closing costs.
Forms
- mortgage disclosure
- mortgage disclosures
Related terms
See also
Commentary
Mortgage disclosure rules aim to promote transparency and protect consumers by ensuring they are fully informed about mortgage terms before committing.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.