TILA-RESPA Integrated Disclosure (TRID) rule Flashcards
(3 cards)
1
Q
TRID says the Loan Estimate form needs to be delivered or placed in the mail no later than the _____ business/calendar day after receiving a loan application
A
third business day
2
Q
TRID states the Closing Disclosure form must be provided to the buyer at least ____ business/calendar days prior to the loan closing
A
three business days
This requirement ensures that buyers have adequate time to review the Closing Disclosure before closing.
3
Q
TRID replaced RESPA’s consumer booklet with a smaller consumer-friendly booklet called ___ ____ ____ ______
A
Your Home Loan Toolkit
This toolkit is designed to help consumers understand the mortgage process.
