Finance
The Good Faith Estimate (GFE) has been replaced by which document under the TRID rules?
AThe Closing Disclosure
BThe Loan Estimate✓ Correct
CThe HUD-1 Settlement Statement
DThe Truth in Lending Disclosure
Explanation
Under the TILA-RESPA Integrated Disclosure (TRID) rules effective October 2015, the Loan Estimate replaced both the Good Faith Estimate (GFE) and the early Truth-in-Lending disclosure. It must be provided to the borrower within 3 business days of application.
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