Question

Which of the following disclosures are mandated by the Real Estate Settlement Procedures Act (RESPA) at closing?

A. Loan Estimate.
B. Closing Disclosure.
C. Initial Escrow Statement.
D. When Your Home is on the Line booklet.

Answer 1

RESPA mandates several disclosures at closing, including the Loan Estimate, Closing Disclosure, and Initial Escrow Statement.

Step-by-step explanation:

The Real Estate Settlement Procedures Act (RESPA) mandates certain disclosures at closing, which include:

1. Loan Estimate: This document provides an estimate of the loan terms and closing costs.
2. Closing Disclosure: This document provides the final loan terms and closing costs.
3. Initial Escrow Statement: This document provides an estimate of the escrow payments for taxes, insurance, and other expenses.

One of the provided options, the 'When Your Home is on the Line booklet,' is not a disclosure mandated by RESPA at closing.