Mandated DisclosuresRespaMEDIUM
Which disclosure is required under the Real Estate Settlement Procedures Act (RESPA)?
Correct Answer
B) Good Faith Estimate and settlement costs disclosure
RESPA requires lenders to provide borrowers with disclosures about settlement costs, including the Loan Estimate (formerly Good Faith Estimate) and Closing Disclosure showing all fees and costs.
Answer Options
A
Property condition disclosureB
Good Faith Estimate and settlement costs disclosureC
Natural hazard disclosureD
Lead-based paint disclosureVideo Explanation3 min
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