TILA-RESPA Integrated Disclosures Flashcards
1
Q
According to TRID - the definition of an application is described as what six items?
A
Name Monthly income SSN Property Address Estimate of property value Loan Amount
2
Q
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.
A
the Loan Estimate
3
Q
How can a borrower communicate intent to proceed upon receiving disclosures?
A
Orally or in person
4
Q
How can a borrower communicate intent to proceed after receiving disclosures?
A
Verbally over the phone, in writing via email or by signing a form.
