A lender discovers that local municipality fees have increased by $200 since the Loan Estimate was provided due to a city council vote. The lender wants to pass this cost to the borrower. This scenario:
Correct Answer
C) Does not qualify as a changed circumstance
Under 12 CFR 1026.19(e)(3)(iv), routine changes in government fees do not typically qualify as changed circumstances unless they meet specific criteria. A municipal fee increase alone, without extraordinary circumstances, would not permit a revised Loan Estimate.
Why This Is the Correct Answer
Under 12 CFR 1026.19(e)(3)(iv), routine changes in government fees do not typically qualify as changed circumstances unless they meet specific criteria. A municipal fee increase alone, without extraordinary circumstances, would not permit a revised Loan Estimate.
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