Finance
Which federal law requires lenders to provide the Loan Estimate to a borrower within 3 business days of receiving a loan application?
ARESPA
BTILA-RESPA Integrated Disclosure (TRID) rule✓ Correct
CECOA
DHMDA
Explanation
The TILA-RESPA Integrated Disclosure (TRID) rule requires lenders to deliver the Loan Estimate within 3 business days of receiving a complete mortgage application.
Related North Carolina Finance Questions
- A 'conventional loan' in NC refers to a mortgage that is:
- Regulation Z (Truth in Lending) requires that the APR (Annual Percentage Rate) in a mortgage advertisement is triggered when a lender advertises which specific credit term?
- A 'loan-to-value ratio' (LTV) of 80% on a $300,000 North Carolina property means the loan amount is:
- In NC, a 'deed in lieu of foreclosure' has which disadvantage for the borrower compared to a short sale?
- In NC, 'seller financing' or a 'purchase money mortgage' occurs when:
- The primary purpose of the Community Reinvestment Act (CRA) is to:
- Which statement about the Closing Disclosure is TRUE?
- Under RESPA, a kickback or unearned fee in connection with a federally related mortgage loan is:
Practice More North Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →