Finance
Under TRID rules, which document must a lender provide to a borrower within 3 business days of receiving a completed loan application?
AThe HUD-1 Settlement Statement
BThe Closing Disclosure
CThe Loan Estimate✓ Correct
DThe Truth in Lending Disclosure
Explanation
Under TRID (effective 2015), lenders must provide a Loan Estimate within 3 business days of receiving a completed loan application. It replaced the Good Faith Estimate and initial Truth in Lending disclosure for most residential mortgages.
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