Loan Product Information

Updated 2026-05-17

Loan product information refers to the details about the specific type and features of a mortgage loan that are required to be disclosed under the TILA-RESPA Integrated Disclosure Rule (TRID Rule). This information is crucial for consumers to understand the fundamental characteristics of their loan.

Inaccuracy and Disclosure Requirements

If the loan product information required to be disclosed under the TRID Rule becomes inaccurate after the initial HUD-1 Settlement Statement, Special Information Booklet, Closing Disclosure, and Form HUD-11702 has been provided, it triggers a significant compliance requirement. Specifically, the creditor must ensure that the consumer receives a corrected Closing Disclosure at least three business days before Consummation (Mortgage Lending). This requirement is codified in 12 CFR § 1026.19(f)(2)(ii).

An inaccuracy in the loan product information re-triggers the Three Day Waiting Period Closing Disclosure, preventing consummation until the consumer has had three full business days to review the corrected disclosure. This is one of three specific types of changes that mandate a new waiting period, alongside an inaccurate Annual Percentage Rate (APR) or the addition of a prepayment-penalty.