Finance
Under TRID, which document replaces the former HUD-1 Settlement Statement for most residential transactions?
ALoan Estimate
BClosing Disclosure✓ Correct
CTruth-in-Lending Disclosure
DGood Faith Estimate
Explanation
The TILA-RESPA Integrated Disclosure (TRID) rule replaced the HUD-1 Settlement Statement (and the old Good Faith Estimate) with the Closing Disclosure (CD) and Loan Estimate (LE) for most residential mortgage transactions after October 2015.
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