Escrow & Title
In Wisconsin, TRID requires lenders to provide the Loan Estimate form to replace the former:
AHUD-1 and GFE (Good Faith Estimate)
BRESPA disclosure and TIL (Truth in Lending) statement
CBoth Good Faith Estimate and Truth in Lending disclosure✓ Correct
DClosing Disclosure and Escrow Analysis
Explanation
The TRID rule (effective October 2015) replaced the separate Good Faith Estimate (GFE) and early Truth in Lending (TIL) disclosure with a unified Loan Estimate form.
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Key Terms to Know
Escrow
A neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
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