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#2214141 - 05/21/19 11:51 PM Waiver of Waiting Period
terpsfan Offline
Diamond Poster
Joined: Feb 2007
Posts: 2,059
Do to email issues a customer was unable to getthe CD on the third business day prior to closing. The borrowers contract expires and the seller has their purchase scheduled following this closing. Not closing on this date could cause financial issues. Would this qualify for a waiver?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2214146 - 05/22/19 10:40 AM Re: Waiver of Waiting Period terpsfan
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,393
Galveston, TX
Waiver of the three day waiting period is like waiving the right of rescission. Bank decision as to whether to accept.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2214156 - 05/22/19 11:55 AM Re: Waiver of Waiting Period terpsfan
burke116 Offline
Platinum Poster
Joined: Jun 2014
Posts: 568
Petersburg, VA
Were the email issues on the customer's end? If the Bank can document that it "delivered" the disclosure under a compliant E-SIGN process, would that not satisfy the requirements? Not saying I would be completely comfortable with the situation, just throwing the thought out there.

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#2214157 - 05/22/19 12:03 PM Re: Waiver of Waiting Period terpsfan
terpsfan Offline
Diamond Poster
Joined: Feb 2007
Posts: 2,059
Yes we use a secure portal and the customer got the email but could not get logged in to view it

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#2214159 - 05/22/19 12:52 PM Re: Waiver of Waiting Period terpsfan
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,393
Galveston, TX
If they had previous went through the E-Sign demonstrable consent handshake, if they don't actually open the document, then deliver and the closing date would be based on the 3+3 day rule.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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