A file is logged as an application on 12 May because that is the date it entered the system, though the six items had all arrived by 8 May. What should the log show?
Correct Answer
D) Count timing from the application trigger
Why this is correct: Under the TRID Rule (TILA-RESPA Integrated Disclosure), the lender's obligation to provide a Loan Estimate begins when the lender receives an "application." An application is triggered by the submission of six specific pieces of information: the consumer's name, income, Social Security number, property address, estimated property value, and loan amount sought. All timing for providing the Loan Estimate (generally within 3 business days) and for revisions is counted from this application trigger date. Why the other choices are wrong: Applying the correct general concept to the wrong income calculation stage rather than the TRID Loan Estimate Revisions rule is wrong because it misapplies a rule from a different process (like underwriting) to the TRID disclosure timing, which is strictly defined. Waiting until a regulator asks for the file before applying the federal requirement is wrong because TRID deadlines are mandatory and must be met proactively. Relying on oral agreement when the rule requires documented compliance is wrong because TRID requires written disclosures provided within specific timeframes. Exam tip: For TRID timing questions, always start the clock from the date the application is 'received' (i.e., when the six pieces of information are submitted).
Why This Is the Correct Answer
The correct response is "Count timing from the application trigger" because TRID Loan Estimate duties begin when the application trigger is met.
Why the Other Options Are Wrong
Option A: Apply the correct general concept to the wrong income calculation stage rather than the TRID Loan Estimate Revisions rule.
This distractor shifts the issue to a different trigger, product, or timing rule instead of applying the rule tested in the stem.
Option B: Wait until a regulator asks for the file before applying the federal requirement.
Wait until a regulator asks for the file before applying the federal requirement. is not correct because it does not apply the rule tested by this file scenario.
Option C: Rely on oral agreement when the rule requires documented compliance.
Rely on oral agreement when the rule requires documented compliance. is not correct because it does not apply the rule tested by this file scenario.
Memory Technique
TRID Loan Estimate timing: identify the rule being tested, then choose the action that documents or applies that rule before the file moves forward.
Exam Tip
Match the file facts to TRID Loan Estimate timing; do not choose an exception or shortcut that skips the required rule.
Common Mistakes to Avoid
- -Choosing an internal exception instead of the governing rule
- -Treating preliminary or informal facts as a substitute for required documentation
- -Answering from a familiar but unrelated mortgage topic
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