You are thinking of the original proposal by the CFPB in the draft of the Rule. Because of the American Land Title Association’s massive effort (along with the help of a number of our related industry professionals) to convince the CFPB that delaying closing for minor changes would cause chaos and harm both buyer and seller, the final Rule states that under only three circumstances will the three-day review period be re-triggered. The three instances where a new review period is required are:
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If the annual percentage rate (APR) becomes inaccurate,
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If the loan product is changed, or
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If a pre-payment penalty is added.
Know also that other last minute changes may cause a lender to have to re-submit the file for additional underwriter review or for a new appraisal. This too would delay a closing though it would not be related to any TRID-Rule violation.