New Loan Estimate form
The new Loan Estimate is one of two forms required by the CFPB and will be used for impacted loans originated on or after October 3rd 2015. This form is provided to consumers by the lender within three days in the loan application. It replaces early Truth In Lending statement and the Good Faith Estimate and provides a summary of key loan terms, an estimate of the loan costs, and closing costs. The intent of this form is to promote easy comparison shopping.