What documentation is required to be provided upon the request of a duplicate loan estimate?

The requirement to provide the same information as the original loan estimate when a duplicate is requested stems from the regulations established under the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA). These laws are designed to ensure that borrowers receive clear and consistent information about the costs associated with their mortgage in a transparent manner.

When a duplicate loan estimate is requested, it is crucial that the consumer receives the same terms and details as the original loan estimate. This consistency helps provide clarity and prevents any potential confusion that could arise from receiving a revised or entirely different loan estimate. This adherence to uniformity not only fosters trust between the lender and the borrower but also ensures compliance with federal regulations related to mortgage disclosures.

Providing a new loan estimate with revised terms or an entirely different loan estimate could mislead the borrower or disrupt their understanding of the borrowing costs. Similarly, supplying a copy of the final closing statement would not fulfill the requirement for a loan estimate, as that document is intended for a different purpose in the borrowing process. By ensuring that the same information is provided, the integrity of the mortgage lending process is maintained.