When are Loan Estimate (LE) requirements not required?

The correct selection regarding when Loan Estimate (LE) requirements are not mandated is on commercial loans, loans denied within three days, or bridge/swing loans.

In the context of the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA), a Loan Estimate is required for most consumer mortgage applications, but there are specific exceptions. Commercial loans are generally not subject to the same consumer protection regulations that apply to residential loans, thus exempting them from the LE requirement. Additionally, if a loan application is denied within three business days, a Loan Estimate is not required because the loan process is effectively terminated. For bridge or swing loans, which are typically short-term loans used to bridge the gap between the purchase of a new property and the sale of an existing property, the LE requirements do not apply as they don't fit the usual consumer mortgage profile.

This understanding highlights the importance of recognizing specific loan types and situations where borrower disclosures may differ from standard residential lending practices.