WV Updates Closing Disclosure Requirements

West Virginia has amended its Residential Mortgage Lender, Broker, and Servicer Act to update references (which currently refer to the HUD-1 and HUD-1A Settlement Statements) to incorporate the Closing Disclosure now provided under the TILA-RESPA Integrated Disclosure (TRID) Rules.  The statute, as amended, will also specifically state that the maximum late payment penalty amount must be disclosed in the Closing Disclosure, and clarify that a separate state-specific disclosure form is not required as long as the federal disclosure contains all of the information required under state and federal law.  Additionally, the amended law requires that all borrowers must sign the applicable closing disclosure.

These amendments will become effective on June 10, 2026.