Under TILA-RESPA Integrated Disclosure (TRID) rules, borrowers must receive the Loan Estimate (LE) at least 7 business days before consummation of the loan. This rule allows borrowers ample time to review the terms and costs of the mortgage before closing.
If a revised Loan Estimate is issued due to changes in circumstances (e.g., interest rate changes, property changes), the borrower still needs to receive it no later than 7 business days before consummation.
[References:, TRID (TILA-RESPA Integrated Disclosure Rule), 12 CFR ยง1026.19(f), CFPB Loan Estimate Requirements, , ]
Submit