Loan Officer Larry receives a call from Borrower Brandi during which they discuss many aspects of applying for a mortgage to refinance her home. Among other things, Borrower Brandi shares her income, date of birth, bank account balances, social security number, marital status, property address, years of schooling, property value, needed loan amount, and her employer’s name. After the call ends, what, if anything, must Loan Officer Larry do?
A. Proactively check in with Brandi in 31 days to see if she’s still interested in proceeding
B. Issue a Loan Estimate within three precise business days
C. Nothing - the Do Not Call Rule prohibits Larry from calling her
D. Issue a Loan Estimate within three general business days
Answer:D
Loan Officer Larry receives a call from Borrower Brandi during which they discuss many aspects of applying for a mortgage to refinance her home. Among other things, Borrower Brandi shares her income, date of birth, bank account balances, social security number, marital status, property address, years of schooling, property value, needed loan amount, and her employer’s name. After the call ends, what, if anything, must Loan Officer Larry do?
A. Proactively check in with Brandi in 31 days to see if she’s still interested in proceeding B. Issue a Loan Estimate within three precise business days C. Nothing - the Do Not Call Rule prohibits Larry from calling her D. Issue a Loan Estimate within three general business days