A servicer receives a borrower's qualified written request on December 15th questioning an escrow analysis. Due to the holidays, the servicer's offices are closed December 24-26 and January 1-2. The servicer must respond no later than:
Correct Answer
C) January 16th, as holidays do not extend RESPA deadlines
Under RESPA Section 6, servicers must respond to qualified written requests within 30 business days. Business days are defined as all days except Sundays and federal legal public holidays. Company office closures that are not federal holidays do not extend the deadline, so the 30 business day period runs without interruption.
Why This Is the Correct Answer
Under RESPA Section 6, servicers must respond to qualified written requests within 30 business days. Business days are defined as all days except Sundays and federal legal public holidays. Company office closures that are not federal holidays do not extend the deadline, so the 30 business day period runs without interruption.
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