Finance
Under RESPA, what document must lenders provide to Wyoming borrowers at least 3 business days before closing?
AThe Loan Estimate
BThe Closing Disclosure✓ Correct
CThe Good Faith Estimate
DThe HUD-1 Settlement Statement
Explanation
RESPA (as amended by TRID) requires lenders to provide the Closing Disclosure at least 3 business days before closing. This document details the final loan terms and all closing costs, replacing the older HUD-1 Settlement Statement.
Related Wyoming Finance Questions
- The 'secondary mortgage market' is important to Wyoming real estate because it:
- A Wyoming borrower's note rate is 6.5% but the APR disclosed is 6.9%. The difference is due to:
- Wyoming does not have a state income tax. A primary financial advantage for real estate investors is:
- A USDA Rural Development loan may be available for a Wyoming property that is:
- A Wyoming lender who 'charges off' a bad loan has:
- A Wyoming mortgage that allows the borrower to prepay without penalty is described as:
- What does APR (Annual Percentage Rate) represent in a Wyoming mortgage loan?
- Which type of Wyoming property would most likely use a USDA Rural Development loan?
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →