Finance
Which federal law requires lenders to provide borrowers with a Loan Estimate within 3 business days of receiving a mortgage application?
ARESPA
BTILA
CTRID✓ Correct
DECOA
Explanation
TRID (TILA-RESPA Integrated Disclosure rule) requires lenders to provide a Loan Estimate within 3 business days of receiving a completed mortgage application. It replaced the old GFE and TIL forms.
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