Braun GmbH (helpÂ·info) (. [bÊaÊn] , commonly pronounced as braun in English), formerly Braun AG, is a German consumer products company based in Kronberg. From 1984 until 2007, Braun was a wholly owned subsidiary of The Gillette Company, which had purchased a controlling interest in the company in 1967.
The consumer must receive the Closing Disclosure form no later than three business days before. consummation. A settlement agent may provide the Closing Disclosure on the creditor's behalf and. responsibilities for completion are permitted to be divided between the settlement agent and creditor. The Closing Disclosure must be re-disclosed if changes subsequently occur causing the Disclosure to. become inaccurate.
However, the TILA-RESPA rule does not apply to HELOCs, reverse mortgages or mortgages secured by a mobile home or by a dwelling that is not attached to real property. The creditor must retain copies of the Closing Disclosure (and all documents related to the Closing Disclosure) for five years after consummation. However, the Escrow Closing Notice and the Post-Consummation Partial Payment Policy disclosure need only be retained for two years. For all other evidence of compliance with the TILA-RESPA rule creditors must maintain records for three years after consummation of the transaction.