Under RESPA/TRID, within how many business days of receiving a completed loan application must a lender provide the Loan Estimate to the borrower?
Correct Answer
B) Within 3 business days
Under TRID (TILA-RESPA Integrated Disclosure) rules, lenders must provide the Loan Estimate to the borrower within 3 business days of receiving a completed loan application. The Loan Estimate outlines key loan terms, projected monthly payments, and estimated closing costs.
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Related Topics & Key Terms
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