According to the TRID Rule, if the closing disclosure is emailed to borrowers, when are they deemed to have received it?

Under the TRID (TILA-RESPA Integrated Disclosure) Rule, if a Closing Disclosure is emailed to borrowers, it is deemed received three business days after it has been sent. This three-day period allows borrowers sufficient time to review the document before closing, ensuring they have adequate opportunity to understand the terms of their mortgage and associated costs.

This requirement is in place to promote transparency and informed decision-making in the real estate transaction process. The three-day waiting period also helps prevent last-minute surprises and allows time for borrowers to ask questions or clarify any concerns they might have regarding the transaction.

Understanding this timeframe is vital for both lenders and borrowers to ensure compliance with TRID regulations and to facilitate a smooth closing process. The other durations provided in the options do not align with the established TRID guidelines regarding the electronic delivery of the Closing Disclosure.