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The Closing Disclosure skill extracts data from mortgage closing disclosure forms, which are five-page reports containing the following information about a mortgage loan: the terms and size of the loan, the interest rate and loan fees, closing costs, monthly payments, and the total amount of all payments and financing fees. Closing disclosure forms are issued at least three days before the mortgage documents are signed. The Closing Disclosure skill is a preview skill. It has been trained on a limited set of documents and is designed to help you quickly get started with processing mortgage closing disclosures. For production use, you may need to uptrain the skill with your own document samples. 

Countries and Languages

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Extracted Fields

Closing Information

FieldDescription
Date IssuedThe date the document was issued.
Closing DateThe date the document was closed.
Disbursement DateThe date the loan is funded.
Settlement AgentThe settlement agent.
File NumberThe file number assigned to the transaction by the settlement agent.
Property StreetThe address of the financed property.
Property CityThe address of the financed property.
Property StateThe address of the financed property.
Property ZIP CodeThe address of the financed property.
Appraised Property ValueThe appraised value of the financed property.

Transaction Information

FieldDescription
Borrower Name 1The name and address of the borrower. The Borrower Name 2 field is extracted only when there are two borrowers.
Borrower Name 2The name and address of the borrower. The Borrower Name 2 field is extracted only when there are two borrowers.
Borrower StreetThe name and address of the borrower. The Borrower Name 2 field is extracted only when there are two borrowers.
Borrower CityThe name and address of the borrower. The Borrower Name 2 field is extracted only when there are two borrowers.
Borrower StateThe name and address of the borrower. The Borrower Name 2 field is extracted only when there are two borrowers.
Borrower ZIP CodeThe name and address of the borrower. The Borrower Name 2 field is extracted only when there are two borrowers.
Seller Name 1The name and address of the seller. The Seller Name 2 field is extracted only when there are two sellers.
Seller Name 2The name and address of the seller. The Seller Name 2 field is extracted only when there are two sellers.
Seller StreetThe name and address of the seller. The Seller Name 2 field is extracted only when there are two sellers.
Seller CityThe name and address of the seller. The Seller Name 2 field is extracted only when there are two sellers.
Seller StateThe name and address of the seller. The Seller Name 2 field is extracted only when there are two sellers.
Seller ZIP CodeThe name and address of the seller. The Seller Name 2 field is extracted only when there are two sellers.
LenderThe name of the lending organization.

Loan Information

FieldDescription
Loan TermThe loan term.
PurposeThe purpose of the loan (such as purchase, construction, refinance).
ProductThe payment type (such as linear, diminishing balance).
Loan TypeThe loan type: Conventional, FHA, VA, Other.
Loan IDThe loan identifier.

Loan Terms

FieldDescription
Loan AmountThe total amount of the loan.
Loan Amount Can IncreaseSpecifies whether the loan amount can be increased after registration.
Interest RateThe interest rate.
Interest Rate Can IncreaseSpecifies whether the interest rate can be increased after registration.
Monthly Principal & InterestThe monthly payment (both principal and interest).
Monthly Principal & Interest Can IncreaseSpecifies whether the monthly payments can be increased after registration.
Prepayment PenaltySpecifies whether there are any prepayment penalties.
Balloon PaymentSpecifies whether the loan is a balloon payment mortgage.

Projected Payments (Repeating Group)

FieldDescription
Payment Calculation PeriodThe calculation period, during which the monthly payment remains the same.
Principal & Interest MinThe minimum monthly mortgage payment size (both principal and interest). This field is extracted only if both a minimum and a maximum value are detected on the document.
Principal & Interest MaxThe maximum monthly mortgage payment size (both principal and interest). This field is extracted by default if there is only one monthly payment value detected.
Mortgage InsuranceThe monthly mortgage insurance payment size.
Estimated EscrowThe estimated monthly escrow payment size.
Estimated Total Monthly Payment MinThe total estimated minimum monthly payment size (Principal & Interest Min + Mortgage Insurance + Estimated Escrow). This field is extracted only if both a minimum and a maximum value are detected on the document.
Estimated Total Monthly Payment MaxThe total estimated maximum monthly payment size (Principal & Interest Max + Mortgage Insurance + Estimated Escrow). This field is extracted by default if there is only one monthly payment value detected.
Estimated Taxes Insurance & AssessmentsThe estimated tax and insurance charges.

Costs at Closing

FieldDescription
Closing CostsThe estimated closing charges.
Cash to CloseThe total estimated amount required to close the deal – including the down payment, the deposit, and other charges.
Note: If the field containing the amount value also contains a currency symbol, it is also included in the extracted value.

Key Fields

  • Date Issued
  • Closing Date
  • File Number
  • Loan ID
  • Loan Amount