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Originationhard27% of exam

A processor handoff raises a TILA Changed Circumstances question for the MLO. What answer should guide the file?

Correct Answer

A) Do not revise estimates without a valid trigger

Changed circumstances can permit revised estimates only when Regulation Z conditions and timing are met. The best answer is "Do not revise estimates without a valid trigger".

Answer Options
A
Do not revise estimates without a valid trigger
B
Treat a rate lock as a changed circumstance for unrelated settlement fees.
C
Ignore redisclosure timing because the borrower verbally accepted the new terms.
D
Increase disclosed costs based on an internal pricing preference without file-specific support.

Why This Is the Correct Answer

Changed circumstances can permit revised estimates only when Regulation Z conditions and timing are met. The best answer is "Do not revise estimates without a valid trigger".

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