Finance
A Montana buyer who receives a 'good faith estimate' from a lender dated before October 3, 2015 should know that this document has been replaced by:
AThe Truth in Lending disclosure
BThe Loan Estimate under the TILA-RESPA Integrated Disclosure (TRID) rule✓ Correct
CThe HUD-1 Settlement Statement
DThe Closing Disclosure
Explanation
Since October 3, 2015, the Good Faith Estimate and initial TIL disclosure were replaced by the Loan Estimate under the TRID rule. The Closing Disclosure replaced the HUD-1 Settlement Statement.
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