- Business Rules
What are the cures for the Closing Disclosure post consummation?Events after consummation
- An event in connection with settlement occurs within 30 calendar days following consummation causing the Closing Disclosure to become inaccurate.
- A change to amount paid by consumer from amount disclosed.
- A creditor must deliver or place in mail corrected Closing Disclosure not later than 30 days after receiving information sufficient to establish event occurred.
- Deliver or place in mail corrected Closing Disclosure no later than 60 calendar days after consummation
- Creditor refunds excess no later than 60 calendar days after consummation
- Creditor delivers or places in mail corrected Closing Disclosure reflecting refund no later than 60 calendar days after consummation
CFPB announcement regarding the delay of TRID
The full statement from CFPB Director Richard Cordray can be viewed here