Finance
Which Iowa lending statute requires lenders to provide borrowers with a Good Faith Estimate of closing costs within three business days of application?
AIowa Secondary Mortgage Loan Act
BTILA-RESPA Integrated Disclosure (TRID) rule✓ Correct
CIowa Consumer Credit Code
DCommunity Reinvestment Act
Explanation
The TRID (TILA-RESPA Integrated Disclosure) rule, implemented in 2015, requires lenders to provide the Loan Estimate (replacing the Good Faith Estimate) within three business days of a complete mortgage application.
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