Finance
Which federal law requires lenders to provide a Loan Estimate to mortgage applicants within 3 business days of application?
ARESPA
BTILA
CTRID✓ Correct
DECOA
Explanation
TRID (TILA-RESPA Integrated Disclosure rule) requires lenders to provide a Loan Estimate within 3 business days of receiving a mortgage application.
Related Alabama Finance Questions
- A mortgage with negative amortization means:
- The phrase 'subject to' in a mortgage context means:
- An Alabama buyer qualifies for a $250,000 loan with a monthly payment of $1,500. What is the annual debt service?
- A mortgage loan that is interest-only for the first 10 years and then fully amortizes over the remaining 20 years is called a(n):
- Under Alabama mortgage law, a lender's right to demand full loan repayment if the property is sold is called a(n):
- The note rate on a mortgage is the:
- The right of a lender to apply collateral property toward the debt upon default is called the:
- The Alabama Consumer Credit Act regulates:
Practice More Alabama Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alabama Quiz →