Loan Closing Disclosure Lead Times and Waiting Period

Regulations require lenders to document the final terms of the loan, and to deliver the document – called the Closing Disclosure – at least 3 business days before scheduled loan consummation.  The Closing Disclosure cannot be verbal; it must be a digital or paper document.

Any changes after deliver of the Closing Disclosure start the clock again: a new Closing Disclosure must be delivered, at least 3 business days before a revised loan consummation date.

In a few circumstances, waiver of the 3-day waiting period is possible, but only when this waiting period would trigger an authentic financial emergency.

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