Origination ActivitiesQuestion 198 of 400
If the Closing Disclosure is placed in the mail, when is the consumer presumed to have received it (absent evidence of earlier receipt)?
a.Three business days after it is mailed
b.The day it is mailed
c.One business day after mailing
d.Seven business days after mailing
Explanation
Under the mailbox rule, if the CD is mailed, the consumer is presumed to receive it three business days after it is placed in the mail, unless the creditor has evidence of earlier receipt. The three-business-day waiting period then runs from the presumed receipt date.
Law Reference: TRIDPractice all 400 questions free — no signup required.
Related questions on this topic
- After the Closing Disclosure is issued, which change requires a new three-business-day waiting period before consummation?
- Which post-CD change does NOT trigger a new three-business-day waiting period?
- A new three-business-day waiting period after the Closing Disclosure is required in all of the following EXCEPT:
- Which of the following is disclosed on the Loan Estimate?
- The primary purpose of the Loan Estimate is to:
- Under TRID, who is responsible for ensuring the Loan Estimate is provided to the consumer?
Last reviewed: · editorial process
PrepPass Editorial Team · Verified against NMLS SAFE Mortgage Loan Originator National Test · How we review