When does the Loan Estimate expire?

When does the Loan Estimate expire?
A . After the 3rd business day
B . After the 5th business day
C . After the 7th business day
D . After the 10th business day

View Answer

Answer: D

Explanation:

Under TILA-RESPA Integrated Disclosure (TRID) rules, the Loan Estimate (LE) expires after 10 business days from the date it was provided, unless the borrower indicates an intent to proceed with the loan. If the borrower does not confirm their intent within 10 business days, the terms and costs in the Loan Estimate are no longer valid, and the lender may issue a new estimate with updated terms.

References:

TRID Rule – Loan Estimate Expiration

12 CFR Part 1026 (Regulation Z)