Finance
A Texas property owner's mortgage is sold to another servicer. Under RESPA, the owner must be notified:
AAfter the transfer occurs
BAt least 15 days before the effective date of the transfer✓ Correct
CWithin 5 days after the transfer
DOnly if the monthly payment changes
Explanation
Under RESPA, when a mortgage loan is transferred to a new servicer, the current servicer must provide notice at least 15 days before the effective date of the transfer, and the new servicer must provide notice within 15 days after the transfer.
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