Finance
Which document provides a borrower with a standardized breakdown of estimated closing costs within 3 business days of a loan application?
AClosing Disclosure
BHUD-1 Settlement Statement
CLoan Estimate✓ Correct
DGood Faith Estimate
Explanation
The Loan Estimate (introduced by TRID in 2015, replacing the GFE) must be provided within 3 business days of receiving a complete loan application. It discloses estimated interest rate, monthly payment, closing costs, and other loan terms.
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