Finance
Which federal law requires lenders to give borrowers a Good Faith Estimate (now replaced by Loan Estimate) of closing costs?
AECOA
BRESPA (Real Estate Settlement Procedures Act)✓ Correct
CTILA
DHMDA
Explanation
RESPA requires lenders to provide borrowers with a Loan Estimate (replacing the Good Faith Estimate under TRID) of expected closing costs within 3 business days of loan application.
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