Set the scheduled consummation date
The initial Closing Disclosure generally must be received by the consumer no later than three business days before consummation.
Count using the precise business-day rule
For this timing rule, business days are all calendar days except Sundays and the Federal legal public holidays listed in 5 U.S.C. 6103(a). Saturday generally counts.
Account for delivery method
If the Closing Disclosure is not provided in person, Regulation Z generally presumes receipt three business days after it is delivered or placed in the mail, although a creditor may rely on evidence of earlier actual receipt.
Review later changes
Most corrected Closing Disclosures do not create a new three-business-day waiting period, but a new period generally applies if the APR becomes inaccurate, the loan product changes so the disclosure is inaccurate, or a prepayment penalty is added.
From timing research to form preparation
Prepare, validate, save and print Closing Disclosure forms in the Windows desktop application.
View Closing Disclosure Software — $199