Maya receives a Loan Estimate on Monday and then goes silent while comparing lenders. On Wednesday, the creditor orders the appraisal and charges Maya for it without any further communication. What is the best answer?
Correct Answer
D) The charge is not allowed because the consumer must indicate an intent to proceed before additional fees are imposed
After the Loan Estimate is received, the lender still must wait for the consumer to indicate an intent to proceed before imposing additional fees such as an appraisal fee. Silence is not treated as consent to move forward.
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