CFPB TRID Sec. 11.11 - Are there timing requirements for providing a Closing Disclosure to reset tolerances?

Compliance > Regulation Z - TILA / TRID Specific > Closing Disclosures
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.
 
 
This Closing Disclosure / CD information can be found in the CFPB's TILA-RESPA Integrated Disclosure rule compliance guide - http://www.consumerfinance.gov/regulatory-implementation/tila-respa/
 

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