How many business days before consummation must the last revised Loan Estimate be delivered?

The correct answer identifies that the last revised Loan Estimate must be delivered at least 4 business days before consummation. This requirement is set by the TILA-RESPA Integrated Disclosure (TRID) rule, which aims to ensure that borrowers have sufficient time to review the final terms and costs associated with their loan before they are legally binding.

The timing is crucial because it helps prevent any last-minute surprises regarding loan costs and ensures that borrowers are adequately informed. The 4-day period allows the borrower to consider the terms carefully and reach a decision without feeling rushed. This window also helps the lender comply with regulations and maintain transparency throughout the loan process. By adhering to this timeline, lenders can enhance the overall experience for the borrower, contributing to a smoother transaction process.