Escrow & Title
RESPA (Real Estate Settlement Procedures Act) requires that a Loan Estimate be provided to the borrower within how many business days of a loan application?
A1 business day
B3 business days✓ Correct
C5 business days
D10 business days
Explanation
RESPA/TRID regulations require the lender to provide a Loan Estimate to the borrower within three business days of receiving a completed mortgage application.
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