Under TILA-RESPA, when must the Closing Disclosure be provided to the borrower?

• A. At closing
• B. Within one business day after application
• C. Upon loan approval
• D. No later than three business days prior to consummation

Answer: (D)

Under TILA-RESPA, the Closing Disclosure must be provided to the borrower no later than three business days before the loan consummation. This three-day window gives the borrower time to review the final loan terms and costs before closing, reducing the risk of surprises at the closing table. The other options don’t fit because the Closing Disclosure isn’t delivered at closing, and the initial timing described for the other forms (like the Loan Estimate) isn’t the disclosure that finalizes the terms. If terms change after disclosure, a new three-day period may be required, and weekends or holidays don’t count as business days.