Zero percent tolerance refers to third-party fees the borrower cannot shop for, meaning that the fees initially disclosed must match what the borrower is charged, without any increase unless a __________ arises.
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The correct answer is...
valid changed circumstance
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__________ allows for certain fees like recording fees, to increase by up to 10% from the initially disclosed amount without a valid changed circumstance.
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The correct answer is...
Ten percent tolerance
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If there is a changed circumstances situation, a revised LE may be issued but it must be done within __________ of learning about the change.
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The correct answer is...
three business days
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3.2.10 Flashcard Review
Amanda Ukasick
Created on September 12, 2025
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Transcript
Zero percent tolerance refers to third-party fees the borrower cannot shop for, meaning that the fees initially disclosed must match what the borrower is charged, without any increase unless a __________ arises.
Flip flashcard to reveal answer
The correct answer is...
valid changed circumstance
Next card
Go Back
__________ allows for certain fees like recording fees, to increase by up to 10% from the initially disclosed amount without a valid changed circumstance.
Flip flashcard to reveal answer
Go Back
The correct answer is...
Ten percent tolerance
Next card
Go Back
If there is a changed circumstances situation, a revised LE may be issued but it must be done within __________ of learning about the change.
Flip flashcard to reveal answer
Go Back
The correct answer is...
three business days
Go Back