Fair Housing
What is the Mortgage Disclosure Improvement Act (MDIA) and how does it protect Nevada borrowers?
AA Nevada state law requiring property condition disclosures
BA federal act requiring early Truth in Lending disclosures and mandating waiting periods before mortgage closing to give borrowers time to review loan terms✓ Correct
CAn act requiring disclosure of all mortgage lender fees in Nevada
DA disclosure act for commercial mortgage lending only
Explanation
MDIA amended TILA to require early disclosure of Good Faith Estimates and a 3-business-day waiting period after receiving certain disclosures before a mortgage can close. This gives Nevada borrowers meaningful time to review loan terms and avoid last-minute surprises at closing.
Related Nevada Fair Housing Questions
- What is the 'Equal Credit Opportunity Act' (ECOA) and how does it relate to fair housing in Nevada?
- What is a protected class under Nevada's additional fair housing protections beyond federal law?
- Redlining refers to the illegal practice of:
- The Americans with Disabilities Act (ADA) primarily applies to real estate in the context of:
- Which federal agency is primarily responsible for enforcing the Fair Housing Act?
- Under the Americans with Disabilities Act (ADA), which Nevada commercial properties must be accessible?
- In Nevada, a fair housing complaint must be filed with HUD within how many days of the alleged discriminatory act?
- A Nevada property owner says they will not sell to anyone with children 'because the property has a pool.' This statement is:
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →