What is the 3 day TRID rule? The three-day TRID rule states that for certain loans, the Closing Disclosure document must be delivered to the borrower three business days prior to the loan taking effect. This is to provide consumers with time to carefully review the documents and ensure they...
The three-day period is meas- ured by days, not hours. Thus,disclosures must be delivered three days before closing, and not 72 hours prior to closing. Disclosures may also be deliv- ered electronically on the disclo- sures due date in compliance with E-Sign requirements. What are the ...
Must be received by the consumer no later than three business days prior to consummation. Under this provision of the Rule, "business days" include all days except for Sundays and legal public holidays. Closing Disclosure Page 1 The first page of the Closing Disclosure advises consumers to compa...
This is a change to current practice where it’s common that the final readings be done a day or two prior to closing. I’ve spoken to several agents about oil fuel in particular, and they all say they really don’t want to deal with the hassle under TRID, so they will be recommend...