Q: Are there timing requirements for providing a Closing Disclosure to reset tolerances?
A: Yes. Like providing a revised Loan Estimate, in order to use the Closing Disclosure to reset tolerances, the Closing Disclosure must be provided within three business days of receiving information sufficient to establish that a changed circumstance or another triggering event has occurred.
Additionally, the other timing requirements for a Closing Disclosures also apply. See the rest of section 11 (in the Bureau’s compliance guide) for more information.