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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
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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:

A. 3 business days
B. 5 business days
C. 30 calendar days
D. 90 calendar days

User Assaf Shemesh
by
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2 Answers

5 votes

Answer:

A. 3 business days

Step-by-step explanation:

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

User Shalana
by
3.6k points
3 votes

Answer:

A. 3 business days

Step-by-step 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.

User Tchadwik
by
3.4k points
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