Timing of Revised Loan Estimate

1. The timing requirements for a revised loan estimate are complicated. You will find them in 1026.19(e)(4)(ii).
A revised loan estimate cannot be provided on or after the date on which you provide a closing disclosure for the loan.
2. If you provide a revised loan estimate, it must be RECEIVED by the consumer not later than 4 precise definition business days before closing
3. If you don't provide the revised loan estimate in person, the consumer is considered to have received it three precise definition business days after you delivered or placed the loan estimate in the mail.
4. You are correct that the 7 business day rule applies to the initial loan estimate, not to revised loan estimates. However, if you send the revised loan estimate rather than provide it in person, the four-day period in paragraph 2 above plus the 3-day presumed delivery time in paragraph 3 above combine to require that you send a revised loan estimate 7 business days before closing. Of course, the consumer's receipt of the revised loan estimate can be earlier than the third business day after it's sent if you can document the earlier receipt and shorten the 7 business days to a few as 4.