Level 1
NMLS Exam
10%
Q1
10 Qs
Q1
What happens if the borrower receives an amended Closing Disclosure?
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At this point in the process, costs are locked in and are not subject to change.
The borrower is given a new three business day waiting period prior to loan consummation.
The loan still must close on the scheduled date.
The borrower and lender must honor the original closing disclosure that was provided.
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