Kai is reviewing a mortgage file involving rate-lock agreements. Which response best follows the governing rule?
Correct Answer
A) Provide the revised Loan Estimate within three business days of lock
Rate locks can require revised Loan Estimates and accurate interest-rate-dependent disclosures. The best answer is "Provide the revised Loan Estimate within three business days of lock".
Why This Is the Correct Answer
Rate locks can require revised Loan Estimates and accurate interest-rate-dependent disclosures. The best answer is "Provide the revised Loan Estimate within three business days of lock".
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