Final answer:
Under Regulation X (RESPA), lenders must supply a Loan Estimate and the 'Your Home Loan Toolkit' to applicants within 3 days of receiving a loan application, in addition to government monitoring information regarding ethnicity, race, and sex.
Step-by-step explanation:
Under Regulation X, which implements the Real Estate Settlement Procedures Act (RESPA), lenders are required to provide certain disclosures within three business days of receiving a loan application. Specifically, lenders must provide a Loan Estimate form that details the key terms of the loan, costs, and other crucial information regarding the mortgage. Lenders are also mandated to offer the "Your Home Loan Toolkit", which is designed to help borrowers understand the process and make informed decisions. Moreover, the applicant must receive a form requesting government monitoring information, which includes occurrences of ethnicity, race, and sex, as a part of efforts to monitor compliance with fair lending laws. Applicants are encouraged, but not required, to provide this information. If an applicant chooses not to provide it, the lender is then required to fill it in based on visual observation and surname, if the application was made in person.