Loan Processing: 03. Compliance

Created by: HSI - Health & Safety Institute Top Author
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Last Updated 01/2026
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Compliance requirements
Within three business days after completing and verifying the application, the lender needs to provide the applicant with a loan estimate of the anticipated closing costs

Amendment 42-24 Authorized for use 1 January 2025 / Mandatory 1 January 2026

Description

Within three business days after completing and verifying the application, the lender needs to provide the applicant with a loan estimate of the anticipated closing costs. This estimate shows the costs associated with the loan settlement, like origination fees, mortgage insurance, title insurance, escrow reserves, and hazard insurance. In 2015, federal changes were made to enhance transparency in the lending industry. In this course, we'll talk about these compliance requirements.

Loan Processing: 03. Compliance

Loan Processing: 03. Compliance
Loan Processing: 03. Compliance
Within three business days after completing and verifying the application, the lender needs to provide the applicant with a loan estimate of the anticipated closing costs. This estimate shows the costs associated with the loan settlement, like origination fees, mortgage insurance, title insurance, escrow reserves, and hazard insurance. In 2015, federal changes were made to enhance transparency in the lending industry. In this course, we'll talk about these compliance requirements.

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