Key Takeaways
- TRID governs LE/CD timing; violations can delay closings or expose parties to penalties.
- Wire fraud is the top financial crime in real estate—always verify wiring instructions by phone.
- BRRRR refinances require seasoning, DSCR qualification, and conservative ARV estimates.
- Post-closing vigilance includes monitoring servicing transfers and confirming escrow setup.
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Test Your Knowledge
1.How many business days before closing must the borrower receive the Closing Disclosure?
2.What triggers a new 3-business-day waiting period on a Closing Disclosure?
3.What is the typical seasoning requirement before a cash-out refinance on an investment property?
4.In the BRRRR case study, what factor most limited the cash-out amount?