Q: What are the general timing and delivery requirements for the Closing Disclosure?
A: Generally, the creditor is responsible for ensuring that the consumer receives the Closing Disclosure form no later than three business days before consummation. (§ 1026.19(f)(1)(ii)(A); Comment 19(f)(1)(v)-3). (Although see section 10.1 above regarding the good faith and due diligence requirements and see section 11.4 below regarding delivery of the Closing Disclosure by a settlement agent, (in the Bureau's compliance guide.)
The creditor also is responsible for ensuring that the Closing Disclosure meets the content, delivery, and timing requirements discussed in sections 10, 11, and 12 of this Guide. (§§ 1026.19(f) and 1026.38)
Note: If a creditor is providing a Closing Disclosure with estimated terms or costs, it must act in good faith and exercise due diligence in obtaining the information (§ 1026.19(f)(1)(i); 1026.17(c)(2)(i)). See section 10.1 for more information (in the Bureau’s compliance guide).