Finance
Which federal law requires lenders to provide borrowers with a Loan Estimate within 3 business days of receiving a loan application?
ARESPA
BTILA-RESPA Integrated Disclosure (TRID)✓ Correct
CEqual Credit Opportunity Act
DHome Mortgage Disclosure Act
Explanation
TRID (the TILA-RESPA Integrated Disclosure rule) requires lenders to provide a Loan Estimate within 3 business days of receiving a completed loan application, giving borrowers clear information about loan terms and costs.
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