Finance
Which federal law requires lenders to provide borrowers with a Loan Estimate within 3 business days of receiving a loan application?
ARESPA
BTILA
CTRID (which implements both TILA and RESPA requirements)✓ Correct
DECOA
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, combining disclosures previously required separately under TILA and RESPA.
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