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Before closing, the team discovers that a late closing change occurs and the team must decide whether a new waiting period is required. What is the safest compliant answer?

Correct Answer

D) Restart the wait only for APR, product, or prepayment penalty changes

Lines 205-206; 12 CFR 1026.19(f)(2)(ii). Only the specified APR, product, or prepayment penalty changes trigger the new three business day waiting period. Therefore, the correct response is "Restart the wait only for APR, product, or prepayment penalty changes".

Answer Options
A
Leave the Loan Estimate unchanged after the creditor learns the disclosed charge is inaccurate.
B
Cure a tolerance problem by renaming the fee instead of documenting or refunding the variance.
C
Assume the Corrected Closing Disclosure new waiting period condition is met because the borrower satisfied the separate loan estimate requirement.
D
Restart the wait only for APR, product, or prepayment penalty changes

Why This Is the Correct Answer

Lines 205-206; 12 CFR 1026.19(f)(2)(ii). Only the specified APR, product, or prepayment penalty changes trigger the new three business day waiting period. Therefore, the correct response is "Restart the wait only for APR, product, or prepayment penalty changes".

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