A Loan Estimate is considered "expired" if the consumer does not express an intent to proceed within 10 business days after the Loan Estimate is provided, unless a longer period is specified by the creditor.
"If a creditor does not receive an intent to proceed from a consumer within ten business days after the Loan Estimate is provided, the creditor is no longer bound by the Loan Estimate."
- 12 CFR § 1026.19(e)(3)(iv)(E); CFPB TILA-RESPA Guide
References:
CFPB, TILA-RESPA Integrated Disclosure Rule Guide
12 CFR § 1026.19(e)(3)(iv)(E)

Under Regulation B (ECOA), creditors may ask about permanent residency or immigration status because this is relevant to the creditor's ability to enforce rights in the event of default. However, they may not ask about childbearing, and other options are either unnecessary or potentially discriminatory.
"A creditor may inquire about an applicant's permanent residency and immigration status."
- 12 CFR § 1002.5(e); Regulation B
References:
CFPB, ECOA Regulation B - Information a Lender May Request

First, calculate the monthly interest-only payment:
Loan Amount: $239,500
Interest Rate: 7.25% annual
Monthly Interest: $239,500 × 0.0725 ÷ 12 = $1,447.29
Add escrow for taxes and insurance:
Annual Insurance: $551 ÷ 12 = $45.92
Annual Taxes: $1,773 ÷ 12 = $147.75
Total escrow per month: $45.92 + $147.75 = $193.67
Total monthly payment:
$1,447.29 (interest-only) + $193.67 (escrow) = $1,640.96
Closest answer: C. $1,640.65
The slight difference is likely due to rounding, but C is the best match.
References:
Standard mortgage calculations (see any finance calculator)
SAFE MLO National Test Study Guide

Under TILA-RESPA Integrated Disclosure (TRID) Rule, fees paid to affiliates of the lender (e.g., title companies, appraisers) must remain the same on the Loan Estimate (LE) unless there is a valid changed circumstance (such as a significant change in the loan terms or property value). These fees fall under the zero-tolerance category, meaning they cannot increase from the amount disclosed on the LE unless a change in circumstance justifies the increase.
* Other costs like per diem interest (A), homeowner's insurance (B), and owner's title insurance premiums (C) can change, as they are not subject to the same zero-tolerance rules.
References:
* TILA-RESPA Integrated Disclosure Rule (TRID), 12 CFR §1026.19
* CFPB TRID Guidelines on fee tolerance

The Consumer Financial Protection Bureau (CFPB) is responsible for regulating mortgage lenders and overseeing their origination practices and procedures. The CFPB was created under the Dodd-Frank Act to protect consumers from unfair, deceptive, or abusive practices in financial services, including mortgages. Its functions include:
* Enforcing rules related to mortgage origination, such as TILA, RESPA, and ECOA.
* Ensuring that lenders provide clear disclosures and follow fair lending practices.
Other functions:
* Regulating the federal funds rate (A) is the role of the Federal Reserve.
* Deciding the quantity of mortgage-backed securities purchased by the government (D) is related to Federal Reserve monetary policy, not the CFPB.
References:
Dodd-Frank Wall Street Reform and Consumer Protection Act
CFPB's Role in Mortgage Origination