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[Music] lets do review of everything we learned pre-qualification versus pre-approval prequal is only a review of what the borrower says they make their assets and the estimated value of the property you may give an estimate of qualifications on a pre-approval you are verifying the information before you issue a final pre-approval having a pre-approval gives a seller a better impression of the buyer truth in lending act tilla regulation z there are eight parts to tilla one mortgage disclosure improvement act two advertising three joipa four apr five le six charms booklet seven qualified mortgage or qm and eight loan officer compensation the principal purpose of tilla is to protect the borrower from interest rate and disclosure abuse and predatory lending tilla includes the loan estimate or le and aims to make sure all the fees and costs are disclosed accurately to the borrower your advertising must be honest and only advertise products that you have available to you anytime you advert