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The charge descriptions used on the Loan Estimate must be substantially the same as the descriptions used on the Closing Disclosure, so conceivably the borrower could compare one document to the other to determine if particular closing costs increased or decreased at closing.
The charge descriptions used on both forms must be entered in the appropriate section in alphabetical order with the exception of Section H Other, where the charges are not required to be alphabetized. All escrow and title charges, including document preparation, signing fees, document download fees, title premiums and endorsement fees must be preceded by the word "Title."
Our systems have been designed to alphabetize charges automatically when entered into each section of the Closing Disclosure. They have also been designed to default the preceding word "Title" in front of the escrow and title charges, to reduce the amount of keying on the part of settlement agents.
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