Escrow & Title
Under RESPA, lenders must provide borrowers with a Loan Estimate within:
A1 business day of receiving a loan application
B3 business days of receiving a loan application✓ Correct
C7 business days before closing
DAt least 30 days before closing
Explanation
RESPA requires lenders to provide borrowers with a Loan Estimate (LE) within 3 business days of receiving a complete loan application. The LE discloses estimated loan terms, projected monthly payments, and estimated closing costs.
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