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What is rescission period?
Three-day right to cancel refinances.
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What is post-closing audit?
Final compliance review.
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What is trailing document?
Document recorded after closing.
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What is occupancy verification?
Confirming property use.
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What is escrow analysis?
Annual review of escrow account.
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What causes escrow shortage?
Rising taxes or insurance.
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What is escrow waiver?
Paying taxes and insurance directly.
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What is payoff demand?
Official loan payoff amount.
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What is mortgage servicing transfer?
Change in loan servicer.
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What is late payment grace period?
Time before late fee applies.
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