Question

When must the Closing Disclosure be provided to the borrower-buyer?

a) At least 10 days before closing
b) On the closing day
c) Within 72 hours of closing
d) After the property is transferred

Answer 1

The Closing Disclosure must be provided to the borrower-buyer at least 10 days before closing.

Step-by-step explanation:

The answer to the question is a) At least 10 days before closing. According to the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA), the Closing Disclosure must be provided to the borrower-buyer at least 3 business days before closing. This allows the borrower-buyer to review the final terms and costs of the loan before signing the loan documents.