Is it possible to provide a Loan Estimate after the Closing Disclosure?

Providing a Loan Estimate after the Closing Disclosure is not permissible under the regulations set forth by the TILA-RESPA Integrated Disclosure (TRID) rule. The Loan Estimate must be provided within three business days of receiving a loan application and is designed to give borrowers a clear picture of the terms and costs associated with their mortgage loan at the beginning of the process.

Once the Closing Disclosure is issued, it serves as the final disclosure of the terms of the loan before closing. The intent of the law is to protect consumers by ensuring they have received all pertinent information before finalizing their mortgage. Therefore, once the Closing Disclosure has been provided, there is no opportunity to issue a new Loan Estimate. This ensures that the borrower isn’t confused or misled about loan terms and costs during the final stages of the transaction.

Understanding these timelines is crucial for compliance and for properly guiding borrowers through the mortgage process, ensuring they are fully informed at key points in their application journey.