[mdunker]

I believe that I had heard in a webinar recently that when we re-disclose the Loan Estimate we don’t have to give another 10 day closing cost expiration. Is this true?

[kowsley]

In the TRID proposal that has yet to be finalized, it states, “Once a consumer has indicated an intent to proceed with the transaction, the date and time at which estimated closing costs expire would be left blank on revised Loan Estimates, if any.” While this is currently only stated in the proposal, it appears that this was the intent when the final rule was written. We anticipate the proposed rule to be finalized sometime mid-2017.

[Cindy]

I actually have 2-questions on the LE cost expiration date: 1)Whether or not there is a rate lock, if after 5-days either the customer requests a change or we need to change the program, do we need put a new cost expiration date (another 10-days) or do we remain with the original expiration date? And 2) If we get a change request and it’s after the 10- days have expired, do we put a new cost expiration date?

[Author]

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