Which document would typically provide borrowers with an overview of what they can expect at closing?

The settlement booklet is specifically designed to provide borrowers with a comprehensive overview of what to expect during the closing process. It includes important information about the closing procedure, clarifies the costs associated with closing, and outlines the rights and responsibilities of the borrower and lender. This educational tool plays a critical role in preparing borrowers for the closing meeting, helping them understand the various documents they will encounter and the implications of their choices.

While the Good Faith Estimate and HUD-1 forms are important documents related to the closing process, they focus more on costs and itemized closing fees rather than serving as a guide. The Good Faith Estimate provides estimates of loan closing costs, while the HUD-1 form lists actual closing costs that the borrower will need to pay. The Affiliated Business Arrangement disclosure reveals relationships between lenders and settlement service providers but does not serve as an overview of the closing process itself.

Thus, the settlement booklet is the most fitting choice for borrowers seeking a thorough overview of the closing experience, including what to expect on closing day.