Regarding the confirm receipt table on the loan estimate, which statement is true?

The confirmation receipt table on the loan estimate is designed to acknowledge that the borrower has received the loan estimate document. This table can provide a space for the creditor to include a signature statement as a way to confirm this receipt. By offering the option for the creditor to add a signature statement, the process ensures both transparency in communication and an official acknowledgment from the borrower.

The other statements do not accurately reflect the requirements or intentions associated with the confirm receipt table. For example, borrowers are not legally required to sign the Loan Estimate itself, and while the confirm receipt table is an integral part of the document, it is not mandatory that a creditor uses it in every scenario. Additionally, there is no requirement for the confirm receipt table to be submitted to the Consumer Financial Protection Bureau (CFPB), as it serves primarily as documentation between the creditor and the borrower regarding the receipt of the Loan Estimate. Thus, the accuracy of the statement regarding the possibility of adding a signature statement is what makes it the correct choice in this scenario.