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Event Date Thu Nov 4 EDT (about 1 month ago)
Location Virtual
Region All

Creditors are responsible for ensuring that the disclosures in the Loan Estimate(LE) is made in good faith and consistent with the best information reasonably available to the creditor at the time they are disclosed. Good faith for closing costs means that we calculate the difference between the estimated charges originally provided in the Loan Estimate with the actual charges paid by or imposed on the consumer in the Closing Disclosure, subject to certain tolerances.

But we all know that it is inevitable that creditors will become aware of information during the application process that makes the disclosures provided on the original LE wrong. When does a “changed circumstance” occur and what is its significance? What if the creditor learns of the changed circumstance once it already has provided the Closing Disclosure?

This webinar will provide an in-depth review of the tolerance rules, the definition of changed circumstances, and how and when creditors provide a revised estimate.


• Good Faith Determination for Estimate of Closing Costs
The zero percent tolerance category
The aggregate ten percent tolerance category
Variations permitted for certain charges

• Revised Loan Estimates
Changed circumstances affecting settlement charges
Changed circumstances affecting eligibility
Revisions requested by the consumer
Interest rate dependent charges
Delayed settlement date on a construction loan

• Provision and Receipt of Revised Loan Estimate

• Revised estimates in Closing Disclosures


An online presentation and any additional supplemental materials, as applicable, will serve as the basis of the presentation. You will have the option to stream the audio through your computer or dial-in using a telephone number/PIN. Ample time will be dedicated to taking questions from attendees. Be sure to submit your questions during the webinar, as we are unable to offer telephone or email support after the presentation.

This program is suitable for all personnel involved in consumer mortgage lending, including loan officers, loan processors, and mortgage brokers. Compliance officers and auditors responsible for ensuring the financial institution is fulfilling its regulatory responsibilities will also find the program valuable.

Program Level: Basic

Prerequisite/Advanced Preparation: Basic Knowledge of Lending Regulations

Delivery Method: Group Live Webinar

Field of Study: Specialized Knowledge


2021 Speaker


Anetria Cohen
Vice President, ProBank Austin