Erin's lender mails her Closing Disclosure on Tuesday for a Friday consummation. No emergency waiver applies. Which statement is most accurate?
Correct Answer
D) Timing is not fine because a mailed Closing Disclosure is deemed received three business days after mailing
For the Closing Disclosure timing rule, a mailed disclosure is generally deemed received three business days after it is delivered or placed in the mail. Mailing it on Tuesday means receipt is not deemed to occur until Friday, so consummation cannot also occur on Friday absent a valid emergency waiver.
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