Finance
Which federal law requires lenders to provide a Loan Estimate to borrowers within 3 business days of receiving a loan application?
ARESPA
BTILA
CTRID (TILA-RESPA Integrated Disclosure Rule)✓ Correct
DECOA
Explanation
TRID (the TILA-RESPA Integrated Disclosure Rule, implemented in 2015) requires lenders to provide a Loan Estimate within 3 business days of receiving a complete loan application and a Closing Disclosure at least 3 business days before closing.
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