Finance
Under RESPA, a Texas lender must provide the borrower with a Loan Estimate within how many business days of receiving a complete loan application?
A1 business day
B3 business days✓ Correct
C5 business days
D7 business days
Explanation
Under TRID, lenders must deliver or place in the mail a Loan Estimate within 3 business days of receiving a complete loan application. A 'complete' application includes the borrower's name, income, SSN, property address, estimated value, and loan amount.
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