When issuing a revised Loan Estimate (LE), we have already received intent to proceed from our applicant so there wouldn’t be a specific timeframe where the closing costs would expire. We are confused by what date we should be putting in this section (on page 1). Would the date stay the original date disclosed on the initial LE? Or do we re-disclose a new date?
We recommend keeping the date from the original LE for all subsequent revised LEs, unless the reason for the changed circumstance was that the original LE expired—in that case, the date should be revised to 10 business days after that revised LE is provided to the borrower.
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