How long must a mortgage loan originator keep documentation related to a revised Loan Estimate?

A mortgage loan originator is required to retain documentation related to a revised Loan Estimate for three years. This retention period is mandated by the regulations set forth in the Truth in Lending Act (TILA) and its implementing regulation, Regulation Z. Keeping these records for three years ensures that both the lender and the consumer can have access to important information regarding the loan terms and any changes that may have occurred during the loan origination process.

This duration aligns with the requirement to retain various loan-related documentation, allowing for accountability and transparency in mortgage lending practices. The emphasis on a three-year retention period reflects the need for adequate time to address any potential disputes or inquiries regarding the loan after it has been finalized. Such regulations are in place to protect consumers and ensure a consistent and fair lending environment.