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Question 1 of 2
1. Question
A creditor issues a Loan Estimate without locking the borrower’s interest rate. Several days later, the borrower locks the rate, causing the amount of discount points and lender credits to change.
What must the creditor generally do under TILA-RESPA rules?
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Question 2 of 2
2. Question
A borrower receives a Loan Estimate but does not indicate an intent to proceed with the transaction until 12 business days later. The creditor then issues revised disclosures with updated settlement charges.
Why may the creditor generally issue a revised Loan Estimate in this situation?
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