| For the most part, this is probably a tempest in a teapot. The term consummation is mainly used in the rule to define the point where 'counting' begins as far as delivery of the Closing Disclosure. It will be up to the market to decide whether the term will replace closing/signing or not. Some consumers may be all right with using the term consummation. Others may prefer closing. It doesn't really matter what it is called as long as the creditor knows when consummation occurs and sends the disclosures out in time. |
