Illinois mortgage law requires lenders to provide borrowers with:

This question tests knowledge of federal mortgage disclosure requirements that apply in Illinois and all other states. The Loan Estimate (LE) is a critical consumer protection document that provides borrowers with key loan terms and closing costs early in the lending process. Understanding this requirement matters because it empowers borrowers to compare loan offers and avoid predatory lending practices. The question's core concept is the timing of mortgage disclosures. Option A is incorrect because verbal estimates don't provide the required written documentation. Option B correctly identifies the Loan Estimate and its 3-business-day deadline. Option C is wrong because federal law mandates early disclosures. Option D is incorrect because the Good Faith Estimate was replaced by the Loan Estimate in 2015. This question challenges students because it tests knowledge of specific disclosure timing and document names, which are easily confused.