How many days after a changed circumstance must a new Loan Estimate be delivered?

In the context of mortgage lending, when there is a changed circumstance that affects the loan estimate, the Consumer Financial Protection Bureau (CFPB) regulations dictate the timelines for issuing a revised Loan Estimate. The correct timeframe is three business days after the changed circumstance occurs. This requirement ensures that borrowers are promptly informed of any adjustments to their loan terms, interest rates, or costs, allowing them to make informed decisions regarding their mortgage.

This three-day period is critical because it aids in maintaining transparency and consumer protection within the mortgage process, ensuring that borrowers receive updated information in a timely manner. Such regulations are part of the broader aim to empower consumers and foster a clearer understanding of mortgage terms and costs, which is essential for responsible borrowing.

The other options do not reflect the correct timeframe established by the regulations, as they either exceed or fall short of the three-business-day requirement, illustrating how crucial it is to adhere to the specific timeframes set forth in regulations regarding changes in loan estimates.