Finance
Which federal act established the framework for the current mortgage disclosure forms (Loan Estimate and Closing Disclosure)?
ARESPA
BTILA
CTRID (Dodd-Frank implementation of TILA and RESPA)✓ Correct
DHMDA
Explanation
TRID (the TILA-RESPA Integrated Disclosure Rule) was created under the Dodd-Frank Wall Street Reform Act, combining the Truth in Lending Act (TILA) and RESPA disclosures into the Loan Estimate (replacing the GFE) and Closing Disclosure (replacing the HUD-1).
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