Finance
Which federal law requires a lender to respond to a written mortgage payoff statement request within a specific time period?
AA. RESPA✓ Correct
BB. TILA (Truth in Lending Act)
CC. HMDA
DD. The SAFE Act
Explanation
RESPA (Real Estate Settlement Procedures Act) governs many lender obligations including timely responses to borrower inquiries, including payoff statements.
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