Yes, if circumstances change, such as:
- a natural disaster damages the property or affects closing costs
- the title insurer providing the estimate goes out of business during underwriting
- new information on you or the transaction affecting settlement is discovered.
If any of these events change 3rd-party charges beyond the 10% tolerance limit creditors may issue a revised Loan Estimate.
If a creditor issues a Loan Estimate they are presumed to have collected all 6 pieces of required information. They may not claim a change in circumstances by receiving one of these pieces of information AFTER issuing a Loan Estimate.
Latest posts by TitleTap (see all)
- 7 creative marketing ideas for business law attorneys - September 14, 2020
- 8 creative marketing ideas for bankruptcy attorneys - September 2, 2020
- 7 creative marketing ideas for real estate attorneys - September 2, 2020