In a mortgage origination file, the borrower has provided enough information to trigger a TRID application. Which action should be taken?
Correct Answer
D) Provide the Loan Estimate within three business days
Lines 191-203; 12 CFR 1026.19(e)(1)(iii). After the application trigger is met, timing is driven by receipt of the application, not by underwriting, rate lock, or fee collection. Therefore, the correct response is "Provide the Loan Estimate within three business days".
Why This Is the Correct Answer
Lines 191-203; 12 CFR 1026.19(e)(1)(iii). After the application trigger is met, timing is driven by receipt of the application, not by underwriting, rate lock, or fee collection. Therefore, the correct response is "Provide the Loan Estimate within three business days".
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