Kai is reviewing a mortgage file involving changed circumstances and TRID — Loan Estimate Revisions. Which response best follows the governing rule?
Correct Answer
A) Issue a revised Loan Estimate within three business days when valid
changed circumstances can permit revised estimates only when Regulation Z conditions and timing are met. This item uses an exam-style scenario; any file details in the stem are illustrative and the governing rule controls the compliant response. The best answer is "Issue a revised Loan Estimate within three business days when valid".
Why This Is the Correct Answer
changed circumstances can permit revised estimates only when Regulation Z conditions and timing are met. This item uses an exam-style scenario; any file details in the stem are illustrative and the governing rule controls the compliant response. The best answer is "Issue a revised Loan Estimate within three business days when valid".
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