3.82- What is the Timing of disclosures provided to an applicant?

72 hours or three business days is the time frame provided for the purpose of disclosure. The provision stipulates that the loan applicant must receive the disclosures within 72 hours subsequent to the preparation of the application (or upon receipt of the application). However we must keep in mind that it is ‘three business days’ so if the application was received on Monday then it is reasonable to expect that the disclosures should be sent by Thursday. The general definition of the term ‘business day’ must be employed.

Related Topics: What Counts as Business Day

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