Escrow & Title
RESPA requires that buyers receive a Loan Estimate within how many business days of submitting a loan application?
A1 business day
B3 business days✓ Correct
C5 business days
D10 business days
Explanation
Under RESPA as implemented by the TILA-RESPA Integrated Disclosure (TRID) rule, lenders must provide a Loan Estimate to borrowers within 3 business days of receiving a loan application.
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