What law limits the collection of fees to only the credit report fee before providing early disclosures?

The Mortgage Disclosure Improvement Act (MDIA) plays a pivotal role in regulating the collection of fees in the mortgage lending process. Under this act, lenders are restricted from charging fees to consumers prior to providing the early disclosures, except for the credit report fee. This provision is designed to enhance transparency for borrowers, ensuring they are informed about the terms of their loan and the costs involved before any substantial financial commitment is made. By allowing only a minimal fee for the credit report, the MDIA safeguards borrowers from incurring additional costs before they fully understand their mortgage options and the associated disclosures. This law is an essential part of consumer protection in the lending industry. Other acts mentioned do not specifically impose limitations on fees prior to early disclosures in the same way as the MDIA.