Finance
Which federal law requires lenders to provide a Closing Disclosure at least 3 business days before closing?
ARESPA alone
BTRID (TILA-RESPA Integrated Disclosure)✓ Correct
CECOA
DHMDA
Explanation
TRID rules require lenders to deliver the Closing Disclosure at least 3 business days before consummation (closing), replacing the former HUD-1 Settlement Statement for most loan transactions.
Related Delaware Finance Questions
- What is the Mortgage Disclosure Improvement Act (MDIA) most directly associated with?
- Which federal law prohibits lenders from discriminating in lending based on race, color, religion, national origin, sex, marital status, or age?
- What is a 'teaser rate' in a Delaware adjustable-rate mortgage?
- What is a 'conforming loan' in the U.S. mortgage market?
- What does a 'mortgage servicer' do in Delaware?
- Which federal agency sets the conforming loan limits for conventional mortgages?
- What does 'LTV ratio' stand for and why does it matter in Delaware real estate lending?
- What is 'negative amortization' on a mortgage loan?
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →