Finance
The 'closing disclosure' required by TRID must be provided to the borrower at least how many business days before closing?
A1 business day
B3 business days✓ Correct
C5 business days
D7 business days
Explanation
Under the TRID rules, lenders must provide the Closing Disclosure to the borrower at least 3 business days before closing. This gives the borrower time to review all final loan terms and closing costs before the closing date and compare them to the Loan Estimate received earlier.
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