Finance
Which federal law requires lenders to provide a Loan Estimate within three business days of receiving a mortgage application?
ARESPA✓ Correct
BTILA
CFIRREA
DHMDA
Explanation
RESPA (Real Estate Settlement Procedures Act), as amended by the TRID rules (TILA-RESPA Integrated Disclosure), requires lenders to provide a Loan Estimate within three business days of receiving a completed mortgage application for most residential loans.
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