Final answer:
RESPA requires creditors to provide disclosures such as the Loan Estimate and Closing Disclosure at the time of mortgage loan closing.
Step-by-step explanation:
RESPA, which stands for the Real Estate Settlement Procedures Act, requires creditors to provide certain disclosures to customers at the time of mortgage loan closing.
One important disclosure that RESPA requires is the Loan Estimate, which is a three-page document that provides information about the loan such as estimated monthly payments, interest rate, and closing costs.
Another disclosure that RESPA requires is the Closing Disclosure, which provides similar information but in a more detailed format and includes a breakdown of all costs associated with the loan.