Revising The Loan Estimate & Correcting The Closing Disclosure: When & How to Provide Additional Disclosures

Date Recorded: August 20, 2025
Presenter: Mark Burnside, Director, Forvis Mazars, LLP

The Truth-in-Lending/RESPA integrated disclosure (TRID) rules for providing the Loan Estimate and Closing Disclosure can be deceptively complicated. Often, for example, an institution will realize that certain information on a Loan Estimate has become wrong… well, any change means that we need to provide a revised Loan Estimate, right? Unfortunately, it’s much more complicated than that. These rules for revision are intricately tied to the rules regarding tolerance for closing costs.

What about the Closing Disclosure? Those rules are different, which provides another layer of complexity to our understanding of what we need to do.

This webinar will focus on the rules that provide for when and how a creditor is required to or may revise a Loan Estimate (LE) or correct a Closing Disclosure (CD). We will focus on the importance of closing costs and the potential for fee increases, including the tolerance rules, when discussing the Loan Estimate (and Closing Disclosure). Then, we will review how the rules regarding the Closing Disclosure are different. We will also discuss the importance of timing and how to provide corrected disclosures.

HERE IS WHAT YOU WILL LEARN:

• Tolerance;
• The valid reasons for revising a LE;
• Whether a creditor can provide a revised LE for purposes other than tolerance issues;
• The timing of providing a revised LE;
• Changes that require a new waiting period for a corrected CD;
• APR tolerance review;
• Changes to the CD after closing; and
• Timing of providing a corrected CD.