Which transaction generally does NOT use the Loan Estimate and Closing Disclosure forms under the TRID rule?
Correct Answer
B) A home equity line of credit secured by a residence
TRID's Loan Estimate and Closing Disclosure forms generally apply to most closed-end consumer mortgages secured by real property or a cooperative unit. They do not generally apply to HELOCs, which remain subject to different disclosure rules.
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Related Topics & Key Terms
Key Terms:
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