Mortgage Disclosure Improvement Act (MDIA) creates additional delays

Posted by Thomas Conwell
On August 2, 2009
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mdia, mortgage disclosure improvement act, tila

On July 30, 2008 Congress enacted the Housing and Economic Recovery Act of 2008, which included amendments to TILA, known as the Mortgage Disclosure Improvement Act (MDIA). MDIA took effect on July 30, 2009, approximately two months earlier than the originally planned. Significant changes include, Initial Fees – Lenders may only collect a fee for the reasonable cost […]