TILA-RESPA Integrated Disclosures

Question 1

According to TRID - the definition of an application is described as what six items?

Answer 1

Name
Monthly income
SSN
Property Address
Estimate of property value
Loan Amount

Question 2

According to TRID, a lender or broker may not charge the borrower anything but a credit report fee until the borrower have received ______ AND expressed intent to proceed.

Answer 2

the Loan Estimate

Question 3

How can a borrower communicate intent to proceed upon receiving disclosures?

Answer 3

Orally or in person

Question 4

How can a borrower communicate intent to proceed after receiving disclosures?

Answer 4

Verbally over the phone, in writing via email or by signing a form.