If a GFE is mailed to a borrower on Thursday, January 5, by what day does RESPA consider the GFE to have been delivered?

The correct answer is Monday, January 9, because the Good Faith Estimate (GFE) is considered delivered according to the rules established by the Real Estate Settlement Procedures Act (RESPA). When a document is mailed, the delivery date is counted as the first business day after the document is sent out. Since January 5 is a Thursday, the first business day following that is Friday, January 6. However, RESPA stipulates that the GFE must be delivered at least three business days before the settlement date.

In this scenario, January 6 would be the first day it is considered "in play," but it does not extend the understanding of actual delivery into what would be necessary for compliance purposes. Additionally, Saturday is generally not considered a business day, and the following Monday, January 9 would be the next recognized business day. Thus, RESPA considers the GFE delivered as of that date for compliance purposes, allowing for the necessary considerations before the closing occurs.