Escrow & Title
In Indiana, TRID's 'three-day rule' for the Closing Disclosure means:
AClosing must happen within 3 days of receiving the disclosure
BThe borrower must receive the Closing Disclosure at least 3 business days before consummation✓ Correct
CThe lender has 3 days to prepare the disclosure after receiving a loan application
DThe buyer has 3 days to review and cancel after closing
Explanation
Under TRID, lenders must ensure borrowers receive the Closing Disclosure at least 3 business days before loan consummation (closing). This gives borrowers time to compare the Closing Disclosure to the Loan Estimate and ask questions.
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