Final answer:
The Mortgage Disclosure Improvement Act was enacted in July 2008.
Step-by-step explanation:
The Mortgage Disclosure Improvement Act was enacted in July 2008. False. The Mortgage Disclosure Improvement Act was actually enacted in July 2009, not 2008. This act was aimed at increasing transparency in mortgage transactions and providing more accurate and timely information to borrowers. It required mortgage lenders to provide borrowers with a Good Faith Estimate within three days of receiving their loan application.