Closing Disclosure Timing Reference

Closing Disclosure Timing Reference

TRID timing rules for CD delivery deadlines, re-disclosure triggers, and waiver procedures under 12 CFR § 1026.19(f).

Prerequisites

1. Scheduled closing (consummation) date
2. Delivery method (hand, mail, electronic)
3. Any post-CD changes to APR, loan product, or prepayment penalty

Quick Start — Deadline Calculation

Count back from closing date, excluding closing day itself. Skip Sundays and federal holidays.

Closing: Wednesday Mar 19
  Day 1 ← Tue Mar 18
  Day 2 ← Mon Mar 17
  Day 3 ← Fri Mar 14  (skip Sun)
Latest receipt: Fri Mar 14
If mailing: mail by Tue Mar 11 (add 3 more business days back)

With holiday:

Closing: Tuesday Jan 21  (MLK Day = Mon Jan 20 — excluded)
  Day 1 ← Fri Jan 17
  Day 2 ← Thu Jan 16
  Day 3 ← Wed Jan 15
Latest receipt: Wed Jan 15

Core Rules

Three-Business-Day Receipt Rule — § 1026.19(f)(1)(ii)

• Borrower must receive CD at least 3 business days before consummation
• "Consummation" = date borrower becomes contractually obligated
• All borrowers on the loan must receive the CD
• Creditor bears compliance responsibility

Business Day Definitions — § 1026.2(a)(6)

The CD 3-day rule uses the General definition.

Federal holidays: New Year's Day, MLK Jr. Day (3rd Mon Jan), Presidents Day (3rd Mon Feb), Memorial Day (last Mon May), Independence Day, Labor Day (1st Mon Sep), Columbus Day (2nd Mon Oct), Veterans Day, Thanksgiving (4th Thu Nov), Christmas Day.

Saturday holiday → observed Friday. Sunday holiday → observed Monday.

Delivery & Deemed Receipt — § 1026.19(f)(1)(iii)

Electronic delivery requires E-SIGN compliance: consumer consent, hardware/software disclosure, delivery evidence retained.

Re-Disclosure Triggers — § 1026.19(f)(2)(ii)

Only three changes restart the 3-day waiting period:

Changes That Do NOT Restart the Clock

These require a corrected CD at or before consummation but no new waiting period:

• Settlement charge increases, seller credit changes, escrow changes
• Loan amount changes (unless product type changes)
• Interest rate decreases, cash-to-close changes, clerical corrections

Waiver of Waiting Period — § 1026.19(f)(1)(iv)

All conditions must be met:

1. Bona fide personal financial emergency exists
2. Consumer provides a dated written statement in their own words describing the emergency and waiving the right
3. All primarily liable consumers must sign
4. Statement must not be a pre-printed form

Valid: imminent foreclosure, medical crisis deadline, impending job relocation, natural disaster, COVID-19 emergency (per CFPB guidance).

Invalid: vacation plans, convenience, avoiding rate lock fees, seller pressure.

Seller CD & Post-Consummation

Common Pitfalls

Regulatory Citations

• § 1026.19(f)(1)(ii) — Three-business-day receipt rule
• § 1026.19(f)(1)(iii) — Deemed receipt rules
• § 1026.19(f)(1)(iv) — Waiver of waiting period
• § 1026.19(f)(2)(ii) — Re-disclosure triggers
• § 1026.2(a)(6) — Business day definitions
• CFPB Official Interpretation, Comments 19(f)(1)(ii)-1 through -4
• CFPB Official Interpretation, Comments 19(f)(1)(iv)-1 through -3
• CFPB Interpretive Rule on COVID-19 Flexibilities (April 2020)

Key changes from the original:

• Removed tags — not part of the Agent Skills spec; discovery is driven by description keywords
• Trimmed description — kept third-person with clear trigger guidance, removed redundant enumeration
• Promoted Quick Start — moved deadline calculation examples up front (most common use case) instead of burying them after theory
• Collapsed the federal holiday table into a single inline list — same information, ~40% fewer tokens
• Merged the duplicate correction-timing table — the original had overlapping content between "Re-Disclosure Triggers" and "Changes That Do NOT Require New Waiting Period"; consolidated into one section with a clear sub-list
• Consolidated Seller CD + Post-Consummation into a single table — eliminated a standalone section that only had 2 rows
• Removed redundant Notes column from delivery table — the notes were restating what the deemed-receipt column already said
• Reduced from 175 lines → 120 lines while preserving every regulatory rule, citation, threshold, and deadline