Finance
Under RESPA, lenders are required to provide borrowers with the 'Special Information Booklet' when the loan application involves:
AAny mortgage for commercial property
BA federally related mortgage loan for a purchase of 1–4 family residential property✓ Correct
CRefinancing an existing loan only
DLoans above $500,000
Explanation
RESPA requires lenders to give borrowers the HUD Special Information Booklet (Your home loan toolkit) within 3 business days of a loan application for purchase of 1–4 family residential property.
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