Truth-In-Lending Disclosures
The Mortgage Disclosure Improvement Act of 2008 (“MDIA”) is part of the Housing and Economic recovery Act of 2008. (“HERA”) and amends the Truth In Lending Act. Effective July 30, 2009, ALL lenders, whether a bank or mortgage banking firm, must comply with the new requirements that impacts the timelines of when updated disclosures are reissued and the […]