Escrow & Title
At a Minnesota closing, the buyer receives a Loan Estimate (LE) and a Closing Disclosure (CD). Under TRID rules, when must the Closing Disclosure be provided to the buyer?
AAt least 1 business day before closing
BAt least 3 business days before closing✓ Correct
COn the day of closing
DAt least 7 days before closing
Explanation
Under TRID (TILA-RESPA Integrated Disclosure) rules, the Closing Disclosure must be provided to the buyer at least 3 business days before closing. This allows the buyer time to review the final loan terms and costs.
Related Minnesota Escrow & Title Questions
- A Minnesota seller provides a special warranty deed. This deed warrants title only:
- A Minnesota property has two deeds of trust from the same lender. The second deed of trust was recorded after the first. Which lien has priority?
- A Minnesota buyer wants to purchase a property that has a lis pendens filed against it. What does this mean?
- In Minnesota, 'subrogation' in title insurance means:
- A Minnesota closing agent receives conflicting instructions from buyer and seller regarding earnest money disposition. What should the agent do?
- A Minnesota buyer is purchasing a home with an FHA loan. The lender's title insurance (mortgagee's policy) protects:
- In Minnesota, which party typically pays for the owner's title insurance policy?
- A Minnesota homebuyer receives a Loan Estimate (LE) from their lender three days after submitting their loan application. The Closing Disclosure shows higher fees than the LE. Which fees are protected from increase (cannot change at all)?
Practice More Minnesota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Minnesota Quiz →