Tag: truth-in-lending 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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