by Ethan Atkinson | May 15, 2026 | P-T, PropertyPedia
The Truth in Lending Act (“TILA”) is a federal consumer protection law enacted in 1968 to promote the informed use of consumer credit by requiring clear and standardized disclosure of key loan terms and costs. Administered primarily through Regulation Z, TILA applies...
by Ethan Atkinson | May 15, 2026 | K-O, PropertyPedia
The “Opt-Out Rule” is a consumer privacy requirement established under the Gramm-Leach-Bliley Act (“GLBA”) that gives consumers the right to limit certain sharing of their nonpublic personal information with nonaffiliated third parties. Under this rule, financial...
by Ethan Atkinson | May 15, 2026 | F-J, PropertyPedia
The Gramm-Leach-Bliley Act (“GLBA”), enacted in 1999, is a federal law that governs how financial institutions collect, protect, and share consumers’ nonpublic personal information. The law applies to a broad range of financial institutions, including banks, mortgage...
by Ethan Atkinson | May 15, 2026 | P-T, PropertyPedia
A mortgage “pre-approval” is a lender’s conditional determination that a borrower qualifies for a home loan up to a specified amount, based on a detailed review of the borrower’s financial information and creditworthiness. During the pre-approval process, the lender...
by Ethan Atkinson | May 15, 2026 | P-T, PropertyPedia
A mortgage “pre-qualification” is an initial evaluation by a lender of a prospective borrower’s financial profile to estimate how much the borrower may be eligible to borrow for a home purchase or refinance. The process is generally informal and is often based on...
by Ethan Atkinson | May 15, 2026 | P-T, PropertyPedia
A “soft pull” (also called a soft inquiry) on a credit report occurs when a person or organization reviews credit information without it being tied to a formal application for new credit. In the mortgage industry, soft pulls are commonly used during the...
