What information is crucial to include in a Closing Disclosure for transparency?

Including all closing costs and fees associated with the transaction in a Closing Disclosure is crucial for transparency. This document serves to inform both the buyer and seller about the final terms of the loan, including the cost structure ahead of the closing date. By detailing all closing costs, such as title insurance, inspection fees, and attorney fees, the disclosure ensures that the parties involved have a clear understanding of their financial obligations and what they can expect during the closing process. This transparency helps to prevent any surprises and fosters trust among the parties involved.

The other options do not contribute to the same level of necessary transparency within the context of a Closing Disclosure. For example, while a buyer's credit history is important in the overall loan approval process, it is not typically included in this document. The inclusion of a seller's personal information is also irrelevant and inappropriate for the Closing Disclosure, as it focuses on the transaction between the buyer and lender. Lastly, highlighting only the real estate agent's commission fails to provide an overall view of the financial commitments involved in the transaction, which is the primary purpose of the Closing Disclosure.