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http://bucket.wistia.com/medias/ieogac1a8y?embedType=async&videoFoam=true&videoWidth=640 Creditors are generally bound by the initial Loan Estimate. They are permitted to provide a revised Loan Estimate only under certain changed circumstances. These include...

http://bucket.wistia.com/medias/309zjxh0x7?embedType=async&videoFoam=true&videoWidth=640 If the amount you pay at closing exceeds the amounts disclosed on the Loan Estimate - beyond tolerance limits for each category - the creditor must REFUND the excess to you no...

http://bucket.wistia.com/medias/trlzd6mlt6?embedType=async&videoFoam=true&videoWidth=640 Yes, within defined limits. Service charges for which YOU shop and select a provider may change; the creditor is NOT responsible for providers who are NOT on their written list....

http://bucket.wistia.com/medias/qogwko9e0v?embedType=async&videoFoam=true&videoWidth=640 The Loan Estimate documents the essential facts and terms of an approved real estate loan. It includes: loan terms projected payments and loan costs cash and costs at closing time...

http://bucket.wistia.com/medias/exvf0ayvel?embedType=async&videoFoam=true&videoWidth=640 Under the TRID rule, creditors must retain Escrow Cancellation and Partial Payment Policy disclosures for two years; Loan Estimate records for three years after loan consummation...

http://bucket.wistia.com/medias/vinys7ume5?embedType=async&videoFoam=true&videoWidth=640 “Business day” is defined slightly differently for Loan Estimates and Closing Disclosures. For Loan Estimates, each day on which a creditor’s offices are open to the public count...

http://bucket.wistia.com/medias/zfgawqpcgm?embedType=async&videoFoam=true&videoWidth=640 If your loan is approved, on the terms you requested the creditor is required to provide a Loan Estimate within 3 business days. If they determine that your application will not...

http://bucket.wistia.com/medias/h9gwprn7a0?embedType=async&videoFoam=true&videoWidth=640 In addition to the required pieces: Name Income Social Security Number Property Address Estimated Property Value Mortgage Amount Sought a creditor may collect whatever additional...

http://bucket.wistia.com/medias/ibvv6k46uh?embedType=async&videoFoam=true&videoWidth=640 Submitting these 6 pieces of information: Name Income Social Security Number Property Address Estimated Value of Property Mortgage Loan Amount sought constitutes a valid loan...

http://bucket.wistia.com/medias/03t6wh6qg2?embedType=async&videoFoam=true&videoWidth=640 Creditors must continue to use the Good Faith Estimate, Truth-In-Lending Disclosure and the HUD-1 form for reverse mortgages, HELOCs, mobile home or other non-attached dwelling...