Multiple Choice
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
Correct Answer:

Verified
Correct Answer:
Verified
Q1: In general, most contracts - including a
Q4: At the closing, the buyer will be
Q12: While the principal parties to a transaction
Q14: The Real Estate Settlement Procedures Act (RESPA)is
Q18: If a property transaction is scheduled to
Q22: Since the seller often has utilized the
Q22: Recording documents in the public records informs
Q26: Contracts for sale may contain sections that
Q28: Certain closing costs will be prorated to
Q30: If property owners fail to pay their