3 DAY “CLOSING DISCLOSURE” RULE - Title Advantage
[Pages:1]3 DAY "CLOSING DISCLOSURE" RULE
(TRID) TILA-RESPA Integrated Disclosures EFFECTIVE OCTOBER 3, 2015 The Creditor (lender) must provide the "Closing Disclosure" (CD) to the borrower at least 3 business days before closing.
CLOSING DATE
MONDAY
TUESDAY WEDNESDAY THURSDAY
FRIDAY
SATURDAY
HOW TO FILE A TITLE INSURANCE CLAIM
DISCLOSURES DUE
? Hand deliver
? Deliver by courier with signed receipt
PRECEDING PRECEDING PRECEDING PRECEDING PRECEDING PRECEDING
THURSDAY
FRIDAY
SATURDAY
MONDAY
TUESDAY WEDNESDAY
MAIL DISCLOSURES
PRECEDING PRECEDING PRECEDING PRECEDING PRECEDING PRECEDING
MONDAY
TUESDAY WEDNESDAY THURSDAY
FRIDAY
SATURDAY
ACCEPTABLE FORMS OF DELIVERY ? Providing in person ? Mailing, or by other delivery meth-
ods including email ? Creditors may use electronic deliv-
ery methods subject to compliance with the consumer content and other applicable provisions of the electronic Signatures in Global and National Commerce Act
"Mailbox" delivery rule: states that the CD must be mailed to consumer at least 6 business days prior to consummation.
* Information in this article was obtained in part from American Land Title Association, .
NOTE ? If a federal holiday falls in the 3-day
period, add a day for disclosure delivery ? The 3-day period is measured by days, not hours. Thus, disclosures must be delivered three days before closing, and not 72 hours prior to closing ? Disclosures may also be delivered electronically on the disclosures due date in compliance with E-Sign requirements.
WWW.
The information contained herein is deemed to be reliable, but it is not guaranteed. California Title Company assumes no responsibility for errors or omissions. Images may be subject to copyright. ?2015 California Title Company.
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