The Wednesday CD and the Friday Closing

No. For a closed-end consumer mortgage subject to TRID, the creditor must ensure the borrower receives the Closing Disclosure no later than three business days before consummation. For CD timing, 'business day' means every calendar day except Sundays and federal holidays, so Saturdays count. If the CD is received Wednesday, the business days before Friday are only Thursday and Friday - two. A Friday closing would violate the rule unless the borrower received it earlier. The earliest permissible consummation is Monday, assuming Monday is not a federal holiday and the CD is not revised. If the CD must be reissued with corrected figures because the endorsement fee changed, the three-business-day clock restarts on delivery. The lender cannot rely on the borrower's waiver; the only exception is a bona fide personal financial emergency, which this is not. The practical fix: reissue the CD with the corrected fee and new closing date, deliver it, document receipt, and close no earlier than three business days later.

Origination charges, including discount points, are zero-tolerance. A revised LE can reset the baseline only if a valid changed circumstance occurred and the revised LE was delivered within three business days. A rate lock after an unlocked LE can be a valid changed circumstance for rate-dependent charges, but only if the original LE did not already assume a locked rate. If the Thursday revised LE was timely, the $850 point is the new baseline and no cure is due; if not, the $850 is a tolerance violation and must be refunded. Title services and the endorsement fall in the 10% cumulative category: compare the sum of the disclosed 10% fees to the sum charged. If the original 10% baseline was $1,900 title plus $600 endorsement = $2,500, the allowed 10% bucket is $2,750; actual $1,900 plus $650 = $2,550, so the $50 extra does not violate the 10% tolerance. The appraisal fee is zero-tolerance but did not change. Recording and transfer taxes are zero-tolerance but did not increase. If any zero-tolerance fee exceeded the baseline without a valid changed circumstance, a cure would be required - refund to borrower and revised CD - not a post-closing fix.

You cannot let the borrower sign Friday and cure afterward. The three-business-day CD waiting period is a consummation precondition; a violation cannot be cured by a later refund. The tolerance cure rules allow refunds within 60 days after consummation, but they do not excuse closing before the waiting period. Signing early also creates risk under TILA/RESPA, state examination findings, and potential UDAAP. Tell the borrower the closing must be rescheduled to the earliest permissible date after a corrected CD is received. If the only change is the $50 endorsement and it is within the 10% bucket, no tolerance cure is needed, but the CD still must reflect the actual $650 and the waiting period must be satisfied from delivery. Document the borrower's receipt, the reason for the delay, and all revised disclosures. Do not accept a backdated CD or a waiver.