A team member asks about TILA TRID Timing Requirements in a consumer complaint triage while trying to resolve the issue before the file moves forward. Which response should the file reviewer use?
Correct Answer
C) Provide the Loan Estimate within three business days
TRID Loan Estimate duties begin when the application trigger is met. The best answer is "Provide the Loan Estimate within three business days".
Why This Is the Correct Answer
TRID Loan Estimate duties begin when the application trigger is met. The best answer is "Provide the Loan Estimate within three business days".
More Federal Laws Questions
A mortgage team asks a branch supervisor about TILA APR and finance-charge rules during a renewal checklist. Which answer should guide the file?
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A disciplinary-risk review raises a question about TILA APR and finance-charge rules. Which action should the renewal specialist recommend?
Before the loan advances, a quality-control reviewer must resolve a ATR/QM repayment-ability rules issue in a supervisory file review. What should happen?
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