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CFPB Updates TRID Rule FAQs For Providing Loan Estimates to Consumers

The CFPB recently updated its TILA-RESPA Integrated Disclosure (TRID) FAQs with guidance related to providing a Loan Estimate to consumers. 

The first FAQ focuses on what triggers the requirement for a creditor to provide a Loan Estimate to a consumer.  For loans subject to TRID, a creditor is responsible for ensuring that a Loan Estimate is delivered to a consumer or placed in the mail to the consumer no later than the third business day after receipt of the consumer’s “application.” 12 CFR §1026.19(e)(1)(iii).

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