Final answer:
The Closing Disclosure must be provided to borrowers at least three business days before loan consummation, not to the seller. The seller may only see it if the borrower consents or state law requires their access.
Step-by-step explanation:
The Closing Disclosure, a form used in the home-buying process, must be provided to potential borrowers at least three business days before loan consummation. This rule allows borrowers sufficient time to review the terms of their loan, including costs and other critical information. It is important to note that the seller of the property is not entitled to the Closing Disclosure unless the borrower consents to its release, or if there is a specific requirement under state law or if the transaction is structured in such a way that the seller has a right to this information.