American_Bankers_Association
CTFA · Question #221
CTFA Question #221: Real Exam Question with Answer & Explanation
The correct answer is B. Real Estate settlement procedure Act. See the full explanation below for the reasoning.
Question
A federal law requiring mortgage lenders to give potential borrowers a government publication describing the closing process and providing clear, advance disclosure of all closing costs to home buyers is called:
Options
- AMultiple listing service
- BReal Estate settlement procedure Act
- CTitle check
- DClosing statement
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