The loan estimate, just like the Good Faith Estimate (GFE), must be delivered by the creditor within three business days of receiving borrower's application for a loan. Unlike the GFE, the loan estimate can only be reissued disclosing different loan payment terms or increased closing costs under the following circumstances:

• Changes that cause the sum of all estimated charges to increase by more than ten percent
• A change in circumstances affecting borrower eligibility
• Revisions requested by the consumer
• Interest rate dependent changes that occur if the interest rate has not been locked or the lock has expired
• A borrower does not express an intent to continue with the transaction within ten (10) business days issuance of the Loan Estimate
• Delayed settlement on a construction loan when the loan estimate is delivered sixty (60) days prior to the loan closing

The new rule states creditor errors are not legitimate reasons for revising loan estimates. Settlement agents will have to provide accurate fee quotes lenders can rely on in order for the lender to comply with the new rules.

The Company makes its fees available to lenders online at www.title.com/gfe giving lenders immediate access to the fees they need to complete the Loan Estimate and Closing Disclosure. Settlement agents should make lender customers aware of the availability of instant online fee quotes containing escrow/settlement fees, title premiums, endorsement fees, recording charges and transfer tax by referring them to your Company–branded website.