Tag: new TIL rules
New mortgage rules could delay closings
Beginning July 30, 2009 all mortgage applications must comply with the Mortgage Disclosure Improvement Act (MDIA) which was passed into law as a part of the Housing and Economic Recovery Act of 2008. The objective of MDIA is to protect consumers & improve the consistency of the Truth-in-Lending disclosures (TIL) that applicants get from lenders [...]
Posted: July 24th, 2009 under For Professionals, Mortgage Qualification.
Tags: Housing and Economic Recovery Act, Mortgage Disclosure Improvement Act, new lending rules, new TIL rules, TIL, TIL delays real estate closings, timelines for TIL, truth-in-lending rules
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