A changed circumstance occurs that affects settlement charges. Within how many business days must the creditor provide a revised Loan Estimate?
Correct Answer
B) 3 business days
Under TRID (12 CFR 1026.19(e)(4)(ii)), when a changed circumstance occurs that affects settlement charges, the creditor must provide a revised Loan Estimate within 3 business days of receiving information sufficient to establish the changed circumstance.
Why This Is the Correct Answer
Under TRID (12 CFR 1026.19(e)(4)(ii)), when a changed circumstance occurs that affects settlement charges, the creditor must provide a revised Loan Estimate within 3 business days of receiving information sufficient to establish the changed circumstance.
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