During a training quiz scenario, the loan team encounters a TRID Closing Disclosure issue. Which response should avoid a shortcut that would misapply the rule?
Correct Answer
B) Ensure Closing Disclosure receipt three business days before consummation
The Closing Disclosure must be received in time and corrected under Regulation Z rules. The best answer is "Ensure Closing Disclosure receipt three business days before consummation".
Why This Is the Correct Answer
The Closing Disclosure must be received in time and corrected under Regulation Z rules. The best answer is "Ensure Closing Disclosure receipt three business days before consummation".
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