Finance
Under RESPA, a lender must provide a borrower with a Loan Estimate within how many business days of receiving a completed loan application?
A1 business day
B3 business days✓ Correct
C5 business days
D10 business days
Explanation
RESPA (Real Estate Settlement Procedures Act) requires lenders to provide a Loan Estimate to borrowers within 3 business days of receiving a completed mortgage loan application.
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