Real estate blog entries tagged with mdia by Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans ( Social Media

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Home : Blogs : Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans : Mortgage Knowledge at its BEST!!!! (Jeff Belonger) : Tag "mdia"

mdia: Calling all realtors - Closing Issues & Time is of the Essence... - The MDIA issue (Mortgage Disclosure Improvement Act) - 08/14/09 09:10 AM

Mortgage Disclosure Improvement Act

Feeling the blues after hearing about the Mortgage Disclosure Improvement Act? (MDIA) For those that haven't heard, this act is part of the Reinvestment & Recovery Act of 2009.
The MDIA became effective on July 30th, 2009. Here are a few highlights of the act that could delay real estate closings in the near future.
The borrower must receive a good faith estimate and a truth in lending disclosure within 3 days of a mortgage application. (but this had already been in place by RESPA laws a long time ago) The earliest a transaction … (53 comments)

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