Question

RESPA requires the following disclosures before settlement: Affiliated Business Arrangement Disclosure, a preliminary copy of the HUD-1 upon request of the borrower, the projected amortization schedule of the loan, and ___?

1) a
2) b
3) c
4) d

Answer 1

RESPA requires the Affiliated Business Arrangement Disclosure, a preliminary copy of the HUD-1, the projected amortization schedule of the loan, and the Good Faith Estimate before settlement.

Step-by-step explanation:

The missing disclosure that RESPA requires before settlement is the Good Faith Estimate (GFE). The Good Faith Estimate is a document that provides an estimate of the borrower's closing costs and loan terms. It helps borrowers compare different loan offers and understand the financial implications of the loan.