In accordance with RESPA, whenever a buyer obtains a new first mortgage loan from a chartered or insured lender, when the loan i

Question

3 years ago

7

In accordance with RESPA, whenever a buyer obtains a new first mortgage loan from a chartered or insured lender, when the loan i

s insured by the FHA or guaranteed by the VA, or when the loan will be sold to one of the federally related secondary mortgage market agencies, a good-faith estimate of the settlement costs must be provided by the lender within:
A. 3 business days
B. 5 business days
C. 30 calendar days
D. 90 calendar days

Business

2 answers:

erastovalidia [21] · Answer 1 · 2022-05-27T09:50:10+03:00

erastovalidia [21]3 years ago

8 0

Answer:

A. 3 business days

Explanation:

A good-faith estimate of the settlement costs must be provided by the lender within 3 business days.

Hoochie [10] · Answer 2 · 2022-05-27T08:12:13+03:00

Answer:

A. 3 business days

Explanation:

In accordance with RESPA, whenever a buyer obtains a new first mortgage loan from a chartered or insured lender, when the loan is insured by the FHA or guaranteed by the VA, or when the loan will be sold to one of the federally related secondary mortgage market agencies, a good-faith estimate of the settlement costs must be provided by the lender within 3 business days.