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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.

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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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