An MLO sponsorship update raises a question about TRID Closing Disclosure timing. Which action should the loan file reviewer recommend?
Correct Answer
B) Delay consummation until the corrected disclosure timing is met
The Closing Disclosure must be received in time and corrected under Regulation Z rules. The best answer is "Delay consummation until the corrected disclosure timing is met".
Why This Is the Correct Answer
The Closing Disclosure must be received in time and corrected under Regulation Z rules. The best answer is "Delay consummation until the corrected disclosure timing is met".
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