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a good faith estimate is required by law to be given by the lender to the borrower within three days of submitting a loan application. what are some drawbacks of not having that estimate at time of closing ?

Answers

Answer 1

The correct answer to this open question is the following.

A good faith estimate is required by law to be given by the lender to the borrower within three days of submitting a loan application. Some drawbacks of not having that estimate at the time of closing are the following. The Closing Disclosure has designated some fee levels of tolerance, so fees can not change to protect the loan estimated. The only exception is when something unexpected happens. The three levels of tolerance are: the zero-tolerance is the fees for the broker. These are fixed. The 10% tolerance accepts a modification of the 10% of fees in case another expenditure is needed. Finally, the no-tolerance concept permits many changes in fees for services beyond the broker assistance.

Answer 2

The drawbacks of not having that estimate at the time of closing will be that the individual may have to pay a higher fee.

The Good Faith Estimate was put in place in order to encourage consumers to be able to shop and also compare the fees from different lenders before a mortgage provider will be chosen.

The good faith estimate is required by law to be given by the lender to the borrower within three days of submitting a loan application.

It's vital to help the customers understand the services that they needed to shop for and thereby get a lower interest. In this case, if one doesn't have the estimate, a higher fee will be paid.

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Related Questions

Three starts die and become deead stars. one of the theree becomes a neutron star, another becomes a black hole, and the third becomes white dwarf. which star, before it died, would have been the most massive and which star would have been the least massive?​

Answers

Answer:

Black hole most massive and white dwarf least massive should be correct. It really just depends on the original size of the star and it's gravitational pull pre death.

Explanation:

Just what I learned over time. I would still do more research on the subject though.

The dead star which is most massive before it died is a black hole and the star which is least massive is White dwarf.

What is the dead stars?

When the fusion in a star is stopped, it is considered as the dead starts. The collapse and reaction after the fusion stops create three types of stars-

Neutron Star-Neutron Star are those dead stars which has low dense. They are the least massive compare to black hole.Black hole-The mass of this black hole is maximum in all the three. When the star is so massive as, it cannot be collapsed and be halted to become a black hole. White dwarf-When the mass of a star is much less as it does not become a black hole or Neutron Star, then it becomes a white dwarf.

Thus, the dead star which is most massive before it died is a black hole and the star which is least massive is White dwarf.

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Punctuate this sentence using commas and semicolons:

Soccer is predictable and slow basketball is loud repetitive and hard to follow and rugby is violent primal and predictable too.

Answers

Answer:

Soccer is predictable; and slow basketball is loud, repetitive and hard to follow; and rugby is violent, primal and predictable too.

Explanation:

Final answer:

The sentence should be punctuated as: 'Soccer is predictable and slow; basketball is loud, repetitive, and hard to follow; and rugby is violent, primal, and predictable too.' It uses semicolons to separate independent, but closely related clauses, and commas to separate items in a list within those clauses.

Explanation:

The correct punctuation of the sentence using commas and semicolons is: Soccer is predictable and slow; basketball is loud, repetitive, and hard to follow; and rugby is violent, primal, and predictable too.

This sentence is composed of three independent clauses that describe different sports. Semicolons are used to separate these clauses, which are closely related but could stand alone as sentences. Within each clause, commas are used to separate items in a list or series.

The U.S. Government was formed the Soil Conservation Service which is now the Natural Resources Conservation Service.

Read the passage underlined (12). There may be a mistake in punctuation, capitalization, or spelling. If you find a mistake, choose the answer that corrects the mistake. If there is no mistake, choose ‘Correct as is.’
A) Correct as is.
B) The U.S. Government formed the Soil Conservation Service
C) The U.S. Government will form the Soil Conservation Service
D) The U.S. Government was forming the Soil Conservation Service

Answers

Answer:the answer is A

Explanation:

A random sample of 50 people from a town with a population of 14,878 were asked to name their favorite flavor of ice cream. If 7 people in the sample named chocolate as their favorite ice‑cream flavor, about how many people in the town would be expected to name chocolate?

Answers

.14 • 14,878 = 2082.92
And you would round it to the nearest one since you wouldn’t split a human so
2083 (I got .14 from multiplying 7/50 •2)

There are "2082.92" persons in town who are anticipated to name chocolate, and the rest of the conversation can be summarised as follows:

Flavor Calculation:

Number of people = 50

Total population= 14,878

selected people = 7

As per the given condition using the formula to calculate the value that is:

[tex]\to 7\times 14878 \div 50 \\\\\to 7\times \frac{14878}{ 50} \\\\[/tex]

Reducing the fraction:

[tex]\to \frac{7 \times7439}{25}[/tex]

Calculating the product or quotient value that is:

[tex]\to \frac{52073}{25}[/tex]

[tex]\to 2082 \frac{23}{25}\\\\[/tex]

OR

[tex]\to[/tex] 2082.92

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The ACT English Test assesses your knowledge of _____. (Select all that apply.)

style and clarity
rhetorical skills
usage and mechanics
organization and structure

Answers

Final answer:

The ACT English Test evaluates knowledge of style and clarity, rhetorical skills, usage and mechanics, and organization and structure. These aspects are essential for crafting well-written and coherent essays that abide by the conventions of standard academic English writing.

Explanation:

The ACT English Test assesses your knowledge of style and clarity, rhetorical skills, usage and mechanics, and organization and structure. These components are integral to effective writing and are evaluated through various questions on the test. For instance, style includes aspects like word choice, coherence, conciseness, and correctness. Rhetorical skills involve the ability to use language effectively for communication in specific contexts, which can include the use of tone, signpost language, parallelism, and repetition. Usage and mechanics refer to the rules and conventions of English grammar, spelling, and punctuation. Lastly, organization and structure pertain to the way ideas are arranged and the overall framework of the writing.

By proofreading and carefully editing your work, you ensure that it meets the expectations for the use of standard English grammar and mechanics. This attention to detail is crucial and highly valued across different disciplines, contributing to the clarity and precision of your writing. Moreover, understanding audience expectations in academic writing helps in making stylistic choices that suit the academic community. When you evaluate an essay or any written work, assessing for clarity, coherence and rhetorical effectiveness is key to successful communication.

Learning outcomes associated with these skills include the ability to apply different formats and design features for texts, correct errors involving mixed sentence structures, and evaluate an essay for its clarity and language. Also important is the capacity to analyze and utilize logical and structural methods, including inductive and deductive reasoning and employing methods like cause and effect.

Which of the following represents a dependent variable in this experiment?

A. the amount of water provided to each plant

B. the growth of each plant

C. the amount of sunlight provided to each plant

D. the amount of soil provided to each plant

Answers

Answer:

B.) The growth of each plant represents the dependent variable in this experiment.

Explanation:

A dependent variable is the variable that is being observed or recorded. In this case, each plant is being recorded.

Answer:B. the growth of each plant

Explanation:

Which of the following words mean "to attribute to someone"?
intuitive
inconsequential
impute
inevitable​

Answers

impute means to attribute to someone

Answer: Third option, impute.

Explanation: The word impute is used to "assign" value to something or represent something as being done or possessed by someone, and is usually used for negative things (the crimes imputed to James ), impute is a synonym of attribute, so the right option would be the third option "impute"

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