What does a consumer indicate when they proceed on day 31 after an original loan estimate has expired?

When a consumer proceeds on day 31 after an original loan estimate has expired, it indicates their intention to move forward with the loan despite the fact that the loan estimate is no longer valid. Under the Truth in Lending Act (TILA), the original loan estimate is only valid for a specific period, typically 10 days. By choosing to proceed after this period, the consumer implicitly agrees to continue with the loan process regardless of the potential changes in terms or conditions that may not have been reflected in the expired estimate.

This action is significant as it suggests that the consumer is aware of the expiration and has decided to accept the risks associated with proceeding without a new loan estimate. The consumer might trust that the conditions outlined in the original estimate are still acceptable or may prefer to move ahead despite any uncertainties regarding potential changes. This option underscores the consumer's active choice to continue the loan application process even after the described terms have technically lapsed.