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#2306262 - 02/19/25 05:22 PM Initial CD regular mail/Corrected CD E-Sign
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Joined: Nov 2008
Posts: 1,166
In the mountains
We have a situation where the initial CD was sent via USPS on a Monday. The next day, Tuesday, a corrected CD was sent via E-Sign, consented and viewed that same day (minor correction that resulted in a loan amount difference of less than $20). The loan closed on Friday. Is this loan considered to have been closed too early based on the "mailbox" rule and when the initial CD was mailed? or is there no timing violation since a CD, albeit a corrected one, was received at least three business days before closing?
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#2306263 - 02/19/25 05:30 PM Re: Initial CD regular mail/Corrected CD E-Sign Likes to Comply
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 85,154
Galveston, TX
Not sure that you are going to find any specific guidance on this situation in the regulations. Since they actually received a CD three business days prior to closing, I am not sure there is any true violation other than possible borrower confusion.
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#2306265 - 02/19/25 05:39 PM Re: Initial CD regular mail/Corrected CD E-Sign Likes to Comply
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In the mountains
Great, thanks!
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