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In a file escalation meeting, a compliance analyst sees facts tied to TILA Loan Estimate Timing. What should the file reflect?

Correct Answer

C) Give the required disclosure or notice on time

Borrower communication must be timely, accurate, and tied to disclosure or action-notice duties. The best answer is "Give the required disclosure or notice on time".

Answer Options
A
Use a phone explanation instead of providing the disclosure required for the file.
B
Apply the correct general concept to the wrong escrow analysis stage rather than the TILA Loan Estimate Timing rule.
C
Give the required disclosure or notice on time
D
Collect only verbal consent and send the written notice after the rate is locked.

Why This Is the Correct Answer

Borrower communication must be timely, accurate, and tied to disclosure or action-notice duties. The best answer is "Give the required disclosure or notice on time".

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