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#946763 - 04/21/08 06:54 PM Within 3 business days?
ComplyOhMy Offline
Platinum Poster
Joined: Dec 2005
Posts: 514
Lexington, Kentucky
When it says within 3 business days does that include the day that application was taken or does it begin the next day?

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Lending Compliance
#946818 - 04/21/08 07:30 PM Re: Within 3 business days? ComplyOhMy
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,763
Central City, NE
Start counting with tomorrow as "1".
If you take an application today (Monday), you need to provide the P-TIL or GFE within 3 business days: Tuesday = 1, Wed. = 2 and Thursday = 3. By the end of Thursday, the disclosures need to be mailed.
_________________________
David Dickinson
http://www.bankerscompliance.com

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#1237614 - 08/24/09 02:52 PM Re: Within 3 business days? David Dickinson
Kraj Offline
Member
Joined: Aug 2005
Posts: 51
With all of the changes to TIL and RESPA, is the above calculation valid? Our programmers are thinking that the application date must be counted as day "1." I have for a very long time determined disclosure dates for RESPA and early TIL as what David indicates above. Please confirm that this is still true?! Thanks.

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#1237617 - 08/24/09 02:55 PM Re: Within 3 business days? Kraj
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,656
The Swamp
It's still true.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1237618 - 08/24/09 02:55 PM Re: Within 3 business days? Kraj
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,400
It's still true. Application received today. Tomorrow is day 1.

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