Are basing your response on the fact that eSign consent had not yet been obtained so we cannot even consider something as being mailed or delivered until eSign consent is obtained?
In the rules there are times when delivered/mailed is required as opposed to when something is considered to be received.
We received the application on 6.11.2021. We are closed on Saturdays. We sent the email to the customer to access the early docs on 6.16.2021. We always considered that as being "placed in the mail" within 3 business days of receiving the application. Additionally, we have an electronic audit trail that shows that the email was delivered on 6.16.2021 and opened. The customer just chose not to go further to review the documents. How is that different than if they received it in the U.S. mail but didn't look at it right away?
1026.19(e)(1)(iii) – 2. Waiting period. The seven-business-day waiting period begins when the creditor delivers the disclosures or places them in the mail, not when the consumer receives or is considered to have received the disclosures. For example, if a creditor delivers the early disclosures to the consumer in person or places them in the mail on Monday, June 1, consummation may occur on or after Tuesday, June 9, the seventh business day following delivery or mailing of the early disclosures, because, for the purposes of § 1026.19(e)(1)(iii)(B), Saturday is a business day, pursuant to § 1026.2(a)(6).
The 7 day waiting period rule says it begins when the creditor delivers the disclosures or places them in the mail, not when the consumer receives or is considered to have received the disclosures.
So based on all of this, didn't we meet the 3 day timing for delivery/mailing of the LE and aren't we ok to close on 6.22.2021 because we delivered/mailed the documents on time?
Always learning something new...