Which form is used to report the closing of a mortgage loan?

The closing of a mortgage loan is reported using the Closing Disclosure (CD). This document is critical because it provides all the final details of the mortgage loan, including loan terms, projected monthly payments, and all closing costs associated with the transaction. The CD must be given to the borrower at least three business days before closing, allowing the borrower to review and confirm their understanding of the loan details before finalizing the transaction.

The Loan Estimate (LE) is related but serves a different purpose; it is provided to prospective borrowers early in the loan process to outline estimated costs, allowing for initial comparisons of different loans, but it is not used for reporting the closing details. The Mortgage Application Form is used to gather information from the borrower to initiate the loan process and isn't related to the closing itself. A Title Report, while important for verifying ownership and the status of the property, does not summarize the closing expenses or final loan details. Thus, the Closing Disclosure is the essential form used to report the closing of a mortgage loan, making it the correct answer.