Finance
The 'three-day waiting period' under TRID (Know Before You Owe) rules means that after receiving the Closing Disclosure, the buyer must wait:
A1 day before closing
B3 business days before the loan can close✓ Correct
C7 calendar days
D10 days if the loan is above conforming limits
Explanation
Under TRID, the buyer must receive the Closing Disclosure at least 3 business days before the loan closing. This waiting period gives borrowers time to review final loan terms and compare them to the Loan Estimate.
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