http://fwd5.wistia.com/medias/stlcehm7qu?embedType=iframe&videoFoam=true&videoWidth=640
Yes, if circumstances change, such as:
- a natural disaster damages the property or affects closing costs
- the title insurer providing the estimate goes out of business during underwriting
- new information on you or the transaction affecting settlement is discovered.
If any of these events change 3rd-party charges beyond the 10% tolerance limit creditors may issue a revised Loan Estimate.
If a creditor issues a Loan Estimate they are presumed to have collected all 6 pieces of required information. They may not claim a change in circumstances by receiving one of these pieces of information AFTER issuing a Loan Estimate.
