At least how many days prior to closing must the Closing Disclosure be provided to the borrower?

The Closing Disclosure must be provided to the borrower at least three business days before the closing of the loan. This requirement is in place to ensure that borrowers have adequate time to review the final terms of their mortgage. The three-business-day rule allows borrowers to carefully consider the details of the loan, including the costs and terms, before finalizing the agreement. This timeframe is designed to facilitate informed decision-making and ultimately aims to protect consumers in the mortgage process. The rule applies to most residential mortgage transactions, providing a standard practice for lenders to ensure compliance with the regulations set forth by the CFPB.