Finance
Under TRID (TILA-RESPA Integrated Disclosure), how many business days before closing must a lender provide the Closing Disclosure to the borrower?
AOne business day
BThree business days✓ Correct
CFive business days
DSeven business days
Explanation
TRID requires lenders to provide the Closing Disclosure to borrowers at least three business days before the closing date, giving them time to review the final terms and costs.
Related Rhode Island Finance Questions
- What is 'tenancy in common deed of trust' used for in Rhode Island investment?
- The SAFE Act (Secure and Fair Enforcement for Mortgage Licensing Act) requires:
- What is 'amortization' in the context of a Rhode Island residential mortgage?
- What is 'amortization schedule' in the context of a Rhode Island mortgage?
- In Rhode Island, which entity guarantees VA loans made to eligible veterans?
- What is a 'bridge loan' in Rhode Island real estate?
- An interest-only mortgage requires the borrower to pay:
- Private Mortgage Insurance (PMI) is typically required when the borrower's down payment is:
Practice More Rhode Island Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Rhode Island Quiz →