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Rule on Tolerance After Closing of Loan

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Question: 
What is the rule on tolerance of what the lender is allowed to change on loan documents after the closing of the loan?
Answer: 

You would need to be a lot more specific. Once a closed-end loan is closed, to change the loan documents usually requires a written modification signed by the borrower. On open-end, it just depends on your contract and then meeting the subsequent disclosure requirements. .

First published on 07/18/2021

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