Federal Mortgage Law · 24% of the SAFE exammedium
Correct answer: Any day the creditor office is open to the public for carrying on substantially all business functions
TRID uses TWO different definitions. The LE 3-day DELIVERY rule uses the GENERAL definition: any day the creditor office is open to the public for substantially all business functions. This varies by lender — if a lender is open Saturdays, Saturday counts. The OTHER definition (all days except Sundays and federal holidays) applies to the 7-day LE waiting period, the CD 3-day waiting period, and the mailbox rule.
CRAM ARCADE has the full NMLS question bank, timed practice exams, focus drills on your weakest category, flashcards and spaced repetition. No credit card.
Start studying free