- Implementation date now set for October 3rd
- New “Loan Estimate” form replaces initial truth-in-lending and Good Faith Estimate forms
- Loan Estimate form must be delivered to consumer within three business days of their application for a loan
- Pre-Approval and Pre-Qualification letters are still allowed
- New “Closing Disclosure form replaces final truth-in-lending disclosure and HUD-1 form
- New rules could cause delay in closings. (Source)