Revising the Loan Estimate

Tolerances can only be reset when there is a valid changed circumstance. This does not mean; however, that you cannot provide an updated Loan Estimate when other changes occur. Regulation does not require these types of “information only” disclosures to be provided. Thus, you may want to consider whether they are worth the time and money to produce as well as the potential for errors and violations.

Jerod explains more in the video.

Video Highlights:

• Tolerances can only be reset with a legitimate changed circumstance.
• If there is no changed circumstance, updated “information only” disclosures can still be issued.
• “Information only” disclosures are not required by regulation, but errors can still result in violations.

Published
2023/04/20