Finance
A North Dakota borrower's mortgage servicer 'transfers servicing' to a new company. Under RESPA, the borrower must be notified:
AOnly after the transfer occurs
BAt least 15 days before the effective date of the transfer✓ Correct
CWithin 90 days of the transfer
DOnly if the borrower specifically requests notification
Explanation
RESPA requires that borrowers receive written notice at least 15 days before a mortgage servicing transfer takes effect, giving them time to prepare for sending payments to the new servicer.
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