Disclosure Section and Closing Package Statuses

The Disclosures section in LOTK shows every disclosure that has been issued on a loan file. Each row lists the disclosure’s name, its current status, the date it was issued, how it was delivered, and any actions available for it. This guide describes what typically appears in this section and what the different statuses and actions mean.

Example: the Disclosures section, showing a list of disclosures with their status, issue date, delivery method, and available actions

What appears in the list

The specific disclosures on a loan file vary, but the list commonly includes items such as:

• Initial Disclosures and Important Disclosure(s): required disclosures issued earlier in the loan process
• Closing Disclosures: the official summary of final loan terms, projected payments, and closing costs, issued at least three business days before closing
• Review Closing Documents: the final closing package made available for the borrower to review online
• eSign Closing Documents: an electronic signature on the closing package, on loans that close electronically

Not every item appears on every loan. Which ones show up, and in what combination, depends on the loan and how it closes.

Review Closing Documents and eSign Closing Documents appear in this section because the closing package itself is sent to the borrower as a disclosure. That is also why they are tracked here alongside earlier items like Initial Disclosures and Closing Disclosures, rather than in a separate part of the loan file.

Reading the columns

Status

• Completed: the disclosure has been reviewed, signed, or acknowledged as required
• Delivered: the disclosure has been sent but has not yet been opened or confirmed
• A Pending count above the list reflects how many items are not yet Completed

Delivery method

This shows how the disclosure was sent to the borrower, most commonly Electronic.

Actions

This column can show a Sign disclosures button on items that still need a signature. This is a separate, earlier signature step and not the same as signing a final closing package.

Viewing documents

Every item in the Disclosures section lets you view the actual documents that were sent, regardless of its status. Select the caret next to a disclosure’s name to expand it and see the individual document inside, such as Important documents. From there, select the Actions menu (the three dots) on that document’s row and choose View documents to open the full package exactly as it was sent. Because this works whether an item is Completed, Delivered, or still Pending, it is the fastest way to confirm what a borrower is being asked to review or sign, without waiting for a task to be finished.

• An eye icon next to a document, such as Important documents under a review item, means it is available to view
• A pencil icon next to a document, such as eSignature under an eSign item, means it required a signature

Example: expanding a disclosure to reveal Important documents, then opening its Actions menu to select View documents

Two ways a closing can appear

Depending on the loan, the closing-related items in the Disclosures section will follow one of two patterns: a traditional closing or a hybrid closing.

Traditional closing

On a traditional closing, the borrower reviews the closing documents online, but there is no separate eSign Closing Documents item. The signature on the closing package itself is captured in person, such as with a notary or at a title company.

Example: a traditional closing, where Review Closing Documents shows Delivered and a Pending count appears above the list

Once the borrower has reviewed the documents online, this item updates to Completed. The signature on the closing package itself still happens in person at closing.

Hybrid closing

On a hybrid closing, both closing-related items appear in the Disclosures section: Review Closing Documents and eSign Closing Documents. Both are completed electronically, in order, from wherever the borrower has an internet connection.

Example: a hybrid closing, with both eSign Closing Documents and Review Closing Documents marked Completed

Once both items show as Completed, the Disclosures section shows the completion date and time, and the loan moves forward to closing.