Under RESPA timing, the Loan Estimate must be provided within how many business days of application?

Under RESPA timing, the Loan Estimate must be provided within how many business days of application?

• A. 3
• B. 5
• C. 1
• D. 7

Answer: (A)

Under RESPA (TRID) the Loan Estimate must be provided within three business days after the lender receives the application. The clock starts once the lender has enough information to determine the loan terms, and only business days are counted (weekends and federal holidays don’t count). This requirement ensures borrowers quickly receive a clear window to compare costs and terms. Options suggesting one, five, or seven days don’t fit the rule, since three is the mandated timeframe.

Under RESPA (TRID) the Loan Estimate must be provided within three business days after the lender receives the application. The clock starts once the lender has enough information to determine the loan terms, and only business days are counted (weekends and federal holidays don’t count). This requirement ensures borrowers quickly receive a clear window to compare costs and terms. Options suggesting one, five, or seven days don’t fit the rule, since three is the mandated timeframe.