WV SB573

Amends West Virginia's Residential Mortgage Lender, Broker and Servicer Act to allow federal TILA-RESPA Integrated Disclosure (TRID) closing documents to satisfy state disclosure requirements, eliminating the need for a separate state-specific closing disclosure

Requires closing disclosures to include late payment penalty information as specified in state code sections §46A-3-112 and §46A-3-113

Updates references from outdated HUD-1 and HUD-1A settlement statements to current federal Closing Disclosure forms

Mandates that closing statements be signed by both the broker/lender/closing representative and the borrower(s), with copies retained until the debt is satisfied in full

Maintains existing requirements for itemized loan details including finance charges, payment schedules, insurance costs, and prepayment rights