Question

RESPA requires the following disclosure at the time of application or within 3 business days of application: What are the required disclosures?

1) Special Information Booklets
2) Good Faith Estimate
3) Mortgage Servicing Disclosure Statement
4) All of the above

Answer 1

RESPA requires special information booklets, a good faith estimate, and a mortgage servicing disclosure statement.

Step-by-step explanation:

RESPA (Real Estate Settlement Procedures Act) requires the following disclosures at the time of application or within 3 business days of application:

1. Special Information Booklets: Mortgage lenders are required to provide borrowers with special information booklets that explain the home buying and mortgage loan process.
2. Good Faith Estimate: Lenders must provide borrowers with a good faith estimate of the loan terms and settlement costs.
3. Mortgage Servicing Disclosure Statement: Borrowers must receive a disclosure statement that explains whether the lender intends to service the loan or transfer it to another servicer.

Therefore, the answer to your question is 4) All of the above.