Finance
TRID requires lenders to give Wyoming borrowers the Loan Estimate within 3 business days of application. Which of the following is NOT a trigger for a new Loan Estimate?
AA significant change in the loan program selected
BThe borrower locks their interest rate at the initially quoted rate✓ Correct
CA major increase in settlement charges beyond tolerance limits
DThe property's appraised value coming in lower than the purchase price
Explanation
Locking an interest rate at the rate initially disclosed does not trigger a revised Loan Estimate. Revised Loan Estimates are required when there are changed circumstances that cause a significant change in previously disclosed information (such as a rate lock with a different rate, or unexpected cost changes).
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