A consumer applies directly to a creditor for a covered TRID loan to purchase a one-family home. The application is neither denied nor withdrawn during the initial three-business-day period. What special information booklet must the creditor provide, and by when?
Correct Answer
C) Your Home Loan Toolkit, delivered or placed in the mail no later than three business days after receipt of the application
C. Deliver or mail Your Home Loan Toolkit within the stated three-business-day period. The booklet is a separate shopping and settlement-information resource, not part of the Loan Estimate. The deadline runs from receipt of the regulatory application, not completion of underwriting or a borrower request. Scope and exceptions: Different transaction purposes can be exempt, and broker applications have a broker-delivery provision. The scenario excludes early denial or withdrawal. Do not substitute a receipt deadline for the regulation's deliver-or-mail standard. Source: Section 1026.19(g)(1); comment 19(g)(1)-3 — https://www.consumerfinance.gov/rules-policy/regulations/1026/19/ Your Home Loan Toolkit — https://www.consumerfinance.gov/learnmore/
Why This Is the Correct Answer
C. Deliver or mail Your Home Loan Toolkit within the stated three-business-day period. The booklet is a separate shopping and settlement-information resource, not part of the Loan Estimate. The deadline runs from receipt of the regulatory application, not completion of underwriting or a borrower request. Scope and exceptions: Different transaction purposes can be exempt, and broker applications have a broker-delivery provision. The scenario excludes early denial or withdrawal. Do not substitute a receipt deadline for the regulation's deliver-or-mail standard.
Why the Other Options Are Wrong
Option A: The home loan toolkit, but only where the borrower asks to receive it
No request is necessary for this covered application.
Option B: The home loan toolkit, at or before the closing table on the day
Waiting until closing misses the application-stage deadline.
Option D: Nothing further: the toolkit was folded into the 2015 estimate itself
The integrated disclosures did not eliminate the booklet.
Exam Tip
Treat the booklet as its own application-stage obligation.
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