MLO PRACTICE QUESTIONS with complete solutions

URAR is the acronym for: 1. Uniform Residential Appraisal Report 2. Uniform Real Estate Appraisal Report 3. Universal Residential Appraisal Report - ANSWER-Correct answer is: 1 Uniform Residential Appraisal Report PR is the generally accepted acronym for: 1. Premium Title Report 2. Present Time Reclamation Association 3. Preliminary Title Report 4. Preliminary Tax Report - ANSWER-Correct answer is: 3 Preliminary Title Report PMI is the acronym for : 1. Preliminary Mortgage Investigation 2. Private Mortgage Insurance 3. Premium Mortgage Insurance 4. Primary Mortgage Insurance - ANSWER-Correct answer is 2 Private Mortgage Insurance MIP is the acronym for: 1. Mortgage Interest Prediction 2. Multi Interest Prevention Act 3. Mortgage Insurance Premium 4. Malprictice Investigation Penalty - ANSWER-Correct answer is 3 Mortgage Insurance Premium COFI is an Index used in which district? 1. 11th District 2. The Federal District 3. Cost of Funds Index District 4. Cost of Funds Index - ANSWER-Correct answer is 1 11th District HUD-1 is an acronym for the: 1. Housing and Urban Design Commission 2. Housing and Urban Development Impact Statement 3. Housing and Urban Distribution Study 4. Settlement Statement - ANSWER-Correct answer is 4 Settlement Statement HUD is an acronym for: 1. Development of Housing and Utilities Department 2. Distribution of Housing Units Department 3. Department of Housing and Urban Development 4. Housing and Urban Department - ANSWER-Correct answer is 3 Department of Housing and Urban Development GNMA is acronym for: 1. Government Non-institutional Mortgage Act 2. Government National Money Act 3. Government National Mortgage Association 4. Government national Monetary Association - ANSWER-Correct answer is 3 Government National Mortgage Association CFPB is the Acronym for: 1. Consumer Financial Protection Bureau 2. Congressional Financial Protection Board 3. Congressional Fair Protection Bureau 4. Consumer Federal Protection Bureau - ANSWER-Correct answer is 1 Consumer Financial Protection Bureau FNMA is the acronym for: 1. Federal Non-institutional Mortgage Administration 2. Federal National Mortgage Act 3. Federal National Mortgage Association 4. Federal National Monetary Association - ANSWER-Correct answer is 3 Federal National Mortgage Association The practice of getting people to sell their homes at bargain prices by suggesting that certain ethnic groups are going to move into the area is nicknamed: 1. Price Fixing 2. Redlining 3. Steering 4. Blockbusting - ANSWER-Correct answer is 4 Blockbusting You and the borrower believe an Adjustable Rate Mortgage would be best for the borrower. What is the name of the booklet you are required to give? 1. CHARM Booklet 2. ARM Disclosure 3. Fair Lending Practice Booklet 4. RESPA Booklet - ANSWER-Correct answer is 1 CHARM Booklet Regarding Mortgage Servicing Transfers, what are the number of days that the current mortgage servicer must inform that customer prior to transferring the loan to another lender - who will subsequently service the loan. How many days prior to this loan: 1. 15 2. 20 3. 3 4. 45 - ANSWER-Correct answer is 1 15 After meeting with the borrowers to complete loan application, you return to your office and order a Tri-Merged credit report. Now you have a credit report, what Loan Disclosure must you now prepare and mail (or give) to them: 1. Notice to Home Loan Applicant 2. Credit Authorization consent 3. Denial Letter 4. Rapid Rescore - ANSWER-Correct answer is 1 Notice to Home Loan Applicant After you have met with your customer and completed a 1003, within how many business days must you send a complete GFE to your customers? 1. 3 2. 5 3. 7 4. 10 - ANSWER-Correct answer is 1 3 Within how many business days after ordering a customers credit report and/or completing 1003, must you send a completed TIL to them? 1. 3 2. 7 3. 15 4. 30 - ANSWER-Correct answer is 1 3 The HUD-1 settlement statement is required on which of the following? 1. All real estate transactions 2. All real estate transactions with mortgages 3. All real estate transactions with mortgages that are federally related 4. All residential real estate transactions - ANSWER-Correct answer is 3 All real estate transactions with mortgages that are federally related In face-to-face application, what do you do if the borrower refuses to fill out the race, ethnicity and gender section on Section X of the 1003? 1. Continue with the loan application, but be sure to get the information completed before submitting the loan to the underwriter. 2. Process and complete the loan entirely without the information 3. Use your best guess and complete the information in the section X of the 1003 4. End the application process - ANSWER-Correct answer is 3 Use your best guess and complete the information in the section X of the 1003 Which is not part of the original loan application? 1. Borrowers marital status 2. ECOA disclosure 3. Borrower provided ethnicity 4. Borrower provided birth date - ANSWER-Correct answer is 2 ECOA disclosure Which is not an application disclosure? 1. Servicing disclosure 2. Environmental hazard disclosure 3. Appraisal disclosure 4. APR disclosure - ANSWER-Correct answer is 2 Environmental hazard disclosure What is the penalty for providing false information on a federally related loan? 1. $1,000,000 fine and jail time 2. $5,000 fine and one year jail time 3. $250,000 fine and 30 year jail time 4. Revoke License and $1,000 fine - ANSWER-Correct answer is 1 $1,000,000 fine and jail time What law requires the lender to collect borrower information for first mortgage and home improvement loans? 1. HOEPA 2. TILA 3. ECOA 4. HMDA - ANSWER-Correct answer is 4 HMDA HMDA requires the lenders to obtain which of the following information for each borrower? 1. Age and Race 2. Race and Sex 3. Marital Status and Sex 4. Marital status and Age - ANSWER-Correct answer is 2 Race and Sex Providing a referral fee to a realtor is? 1. An acceptable practice 2. An illegal practice 3. An acceptable practice as long as it is a fair price for services actually provided 4. Acceptable if fully disclosed - ANSWER-Correct answer is 2 An illegal practice What are the penalties for giving a referral fee to a relator? 1. There are no penalties 2. $10,000 per incident and up to one year in jail 3. 100,000 plus up to 30 years in jail 4. $1,000,000 plus up to one year in jail - ANSWER-Correct answer is 2 $10,000 per incident and up to one year in jail What are the penalties for violating Section 8 of RESPA? 1. $5,000 per incident and up to one year in jail 2. $10,000 per incident plus one year jail time 3. $100,000 plus up to 30 years in jail 4. $1,000,000 plus up to one year in jail - ANSWER-Correct answer is 2 $10,000 per incident plus one year jail time Which of the following does RESPA require on a purchase? 1. Lead paint notice 2. A 1008 3. APR Disclosure 4. Settlement cost booklet - ANSWER-Correct answer is 4 Settlement cost booklet Aggregate escrow requires that the borrower have which of the following? 1. $0 in the account or no more than 2 moths impounds in reserve 2. $0 in account or no more then 1 month impound in reserve 3. No more then 1% of the principal balance of the loan maximum in the impound account 4. $100 and no impound reserves - ANSWER-Correct answer is 1 $0 in the account or no more than 2 moths impounds in reserve A yield spread premium is disclosed on which document? 1. TIL Disclosure 2. Good faith Estimate 3. Servicing Disclosure 4. Rescission Disclosure - ANSWER-Correct answer is 2 Good faith Estimate Which is the primary law that affects mortgage loan closing? 1. TILA 2. ECOA 3. RESPA 4. HMDA - ANSWER-Correct answer is 3 RESPA If a Loan Officer were to take loan application Tuesday at 1:00 pm, what is the last day that the good faith estimate must be mailed or disclosed? 1. The sane day, Tuesday before end of business 2. The next day, Wednesday before 5 pm 3. Friday before midnight 4. Within 3 days before 5 pm - ANSWER-Correct answer is 3 Friday before midnight If you are a lender, is it acceptable to REQUIRE the service of a specific provider? 1. If you have no ownership interest in the provider 2. If the other service provider is an affiliate. 3. As long as ou provide the borrower with the appropriate disclosure within three business days of the loan application 4. Only if the service provider is licensed. - ANSWER-Correct answer is 1 If you have no ownership interest in the provider RESPA imposes requirements about or prohibits all of the following except? 1. Legal kickbacks and referral fees 2. Loan Origination fee 3. The amount of prepaids 4. Information that must be disclosed to the borrower at the loan application or within 3 business days of the application - ANSWER-Correct answer is 2 Loan Origination fee Regulation Z Requires? 1. Disclosure of the settlement costs to buyers and sellers 2. Disclosure of the impound accounts and the prepaids of the borrower(s). 3. Computation and disclosure of the APR to the borrowers. 4. Disclosure of servicing information on the loan. - ANSWER-Correct answer is 3 Computation and disclosure of the APR to the borrowers. If a borrower and co borrower are refinancing a home that they both occupy, at the closing - who must receive a copy of the rescission disclosure? 1. Both borrowers 2. Either borrower or co-borrower 3. Neither borrower because its is a refinance 4. Neither borrower because it is owner occupied and was already financed. - ANSWER-Correct answer is 1 Both borrowers If a loan is a refinance, and the loan is improperly closed and funded in one day with no three day rescission period, how long do the borrowers have to rescind the transaction? 1. 1 day 2. 3 days 3. 1 week 4. 3 years - ANSWER-Correct answer is 4 3 years What is not included in the APR calculation? 1. Mortgage Insurance premium 2. Origination Fee 3. Processing fee 4. Hazard/Fire Insurance Premium - ANSWER-Correct answer is 4 Hazard/Fire Insurance Premium Regulation B allows all of the following except? 1. Inquiries about the age of dependents 2. Inquiries about citizenship and residency status 3. Inquiring about receiving child support or alimony 4. Using the term husband or wife when inquiring about potential co-borrower. - ANSWER-Correct answer is 4 Using the term husband or wife when inquiring about potential co-borrower. If an applicant has been denied credit, how long does the lender have to get a letter of adverse action to him/her? 1. 10 days 2. 15 days 3. 30 days 4. It is not necessary to send a letter as long as the borrower knew before they applied they had bad credit - ANSWER-Correct answer is 3 30 days If the file is inactive, for borrower non-performance a declination letter must be sent within? 1. 10 days 2. 15 days 3. 30 days 4. It is not necessary to send letter if the file is merely inactive - ANSWER-Correct answer is 3 30 days Define "Business day" under Truth in Lending Act for the three day right of rescission: 1. Monday through Friday excepting federally related holidays 2. Monday through Saturday excepting federally related holidays 3. Monday through Saturday excepting legal public holidays 4. Any day the mortgage company is open for business - ANSWER-Correct answer is 3 Monday through Saturday excepting legal public holidays Which property is exempt under RESPA? 1. Owner occupied drellings 2. 25 acres or more 3. Condominiums 4. PUDs and Condominiums - ANSWER-Correct answer is 2 25 acres or more A good faith estimate: 1. Must be within $500 of the final costs 2. Is an estimate only and is not required to reflect actual settlement costs 3. Should exhibit reasonable relationship to the actual final settlement costs 4. Be within $1,000 of the final costs - ANSWER-Correct answer is 3 Should exhibit reasonable relationship to the actual final settlement costs If a home is purchased with an FHA owner-occupied loan, the borrower must move in within: 1. 10 days 2. 20 days 3. 30 days 4. 60 days - ANSWER-Correct answer is 4 60 days Which of the following must be provided to the client on an ARM loan: 1. The "Consumer Handbook on Adjustable Rate Mortgages" 2. "When Your Home is on the Line" 3. Your Settlement Costs and You" booklet by HUD 4. the "ARM Handbook - ANSWER-Correct answer is 1 The "Consumer Handbook on Adjustable Rate Mortgages" The CHARM booklet was prepared by? 1. The CFPB 2. Dept. of Housing and Urban Development 3. Federal Housing Administration 4. The Federal Reserve Board - ANSWER-Correct answer is 4 The Federal Reserve Board When is a loan not subject to RESPA? 1. When it's a primary residence 2. When it's a second residence 3. When the property is 5 acres or less 4. When the property will be used for commercial purpose - ANSWER-Correct answer is 4 When the property will be used for commercial purpose The following two disclosures are required by RESPA, if applicable: 1. 1003 and AfBA 2. GFE and AfBA 3. 1003 and 1008 4. Borrower's Signature Authorization and GFE - ANSWER-Correct answer is 2 GFE and AfBA Which of the following is responsible for determining the need for flood insurance? 1. The Appraiser 2. The title company 3. The loan officer 4. The borrower - ANSWER-Correct answer is 1 The Appraiser How long is flood insurance required? 1. Until the next drought 2. For the first 5 years 3. For the life of the loan 4. Until the LTV is 78% or less - ANSWER-Correct answer is 3 For the life of the loan What does HMDA stand for? 1. Home Mortgage Disclosure Act 2. Home Mortgage Disabilities Act 3. Housing Mortgage Disclosure Act 4. Home Mortgage Development Association - ANSWER-Correct answer is 1 Home Mortgage Disclosure Act Which of the following are the functions of FACTA? (select all that apply) 1. To improve consumer access to credit information 2. To improve resolution of consumer discputes with the credit agencies 3. To prevent identity theft and restore credit history to victims of identity theft 4. All of the above - ANSWER-Correct answer is 4 To improve consumer access to credit information To improve resolution of consumer disputes with the credit agencies To prevent identity theft and restore credit history to victims of identity theft 4. All of the above What is the objective of FCRA? 1. To assure fairness, relevancy, confidentiality and accuracy 2. To assure all borrowers have access to credit 3. To delete obsolete information 4. All of the above - ANSWER-Correct answer is 4 To assure fairness, relevancy, confidentiality and accuracy To assure all borrowers have access to credit To delete obsolete information 4. All of the above Under the FCRA, when must credit reporting agencies delete obsolete information? 1. 5 years from the date placed for collection or charged off 2. 20 years from the date opened, except for bankruptcies 3. 7 years from the date of last activity except bankruptcies 4. 7 years from the date of last activity including bankruptcies - ANSWER-Correct answer is 3 7 years from the date of last activity except bankruptcies Which is the only authorized site for obtaining your free credit report? 1. FreeCreditR 2. AnnualCreditR 3. FreeS 4. CreditR - ANSWER-Correct answer is 2 AnnualCreditR When is it legal and/or acceptable for the loan originator to provide the consumer with a copy of his/her credit report? 1. Never 2. When the customer pays you for it 3. When a customer requests it 4. When contracts with the credit reporting agency do not prohibit it. - ANSWER-Correct answer is 4 When contracts with the credit reporting agency do not prohibit it. What is ECOA? 1. Equal Credit Option Administration 2. Environmental Commission Oversight Act 3. Equal Consumer Opportunity Act 4. Equal Credit Opportunity Act - ANSWER-Correct answer is 4 Equal Credit Opportunity Act Regulation B does which of the following? 1. Protects borrowers from fraudulent use of their information 2. Requires Upfront Mortgage Insurance on all FHA Loans 3. Provides equality in extension of credit 4. Regulates advertising of APR - ANSWER-Correct answer is 3 Provides equality in extension of credit Who provides the Annual Escrow Account Disclosure Statement? 1. The Mortgage Loan Originator 2. The Broker 3. The Title Company 4. The Servicing Lender - ANSWER-Correct answer is 4 The Servicing Lender When is an Affiliated Business Agreement Required? 1. Always when there is co-borrower/affiliate 2. Only purchase loans 3. If an affiliated business is providing services 4. It is no longer required - ANSWER-Correct answer is 3 If an affiliated business is providing services Which of the following is a purpose of RESPA? 1. To regulate interest rates 2. To monitor high cost loans 3. To eliminate kickback and referral fees 4. To track real estate settlement trends - ANSWER-Correct answer is 3 To eliminate kickback and referral fees What is the purpose of the Truth in Lending Act? 1. To enable consumers to compare the cost of credit from lender to lender 2. To keep loan officers honest 3. To prevent kickback and referral fees 4. To oversee commercial lending - ANSWER-Correct answer is 1 To enable consumers to compare the cost of credit from lender to lender Which of the following is acceptable discrimination under ECOA? 1. Race 2. Sex 3. Religion 4. Employment - ANSWER-Correct answer is 4 Employment If you meet with customer face to face, when must you provide them with the final TIL disclosure? 1. Within 3 business days 2. The next 7 business days 3. Within the next 30 days 4. At settlement - ANSWER-Correct answer is 4 At settlement If an advertisement contains TRIGGER TERMS, what must be disclosed? 1. APR only 2. APR and payment amount 3. Interest rate, term, balance and APR 4. Interest rate, closing costs and APR - ANSWER-Correct answer is 3 Interest rate, term, balance and APR Which of the following is NOT a prepaid finance charge? 1. Origination fee 2. Discount point 3. Upfront Mortgage Insurance Premium 4. Appraisal Fee - ANSWER-Correct answer is 4 Appraisal Fee Which of the following is not included in "Our Origination Fee" on the GFE (effective January 1, 2010)? 1. Yield Spread Premium 2. Our Origination Charge 3. Processing Fee 4. Discount Points - ANSWER-Correct answer is 4 Discount Points What is the purpose of HMDA? 1. To detect discriminatory lending 2. To prevent high cost loans 3. To regulate Home Mortgage Appraisals 4. To oversee the FHA - ANSWER-Correct answer is 1 To detect discriminatory lending Regulation B is affiliated with which act? 1. TILA 2. ECOA 3. HMDA 4. HOEPA - ANSWER-Correct answer is 2 ECOA ECOA prevents discrimination based on: 1. Income 2. Marital Status 3. Location 4. Employment - ANSWER-Correct answer is 2 Marital Status The practice of denying home financing in certain neighborhoods is called: 1. Redlining 2. Bait and Switch 3. Dartboarding 4. Skimming - ANSWER-Correct answer is 1 Redlining How long must a brokerage owner keep records: 1. 3 years 2. 4 years 3. 5 years 4. 7 years - ANSWER-Correct answer is 1 3 years Which of the following is an example of a subprime loan? 1. 28-Feb 2. 1-Mar 3. 1-May 4. 360/180 - ANSWER-Correct answer is 1????? 28-Feb A 360/1801 best describes what type of loan? 1. Subprime 2. FHA 3. Balloon 4. ARM - ANSWER-Correct answer is 3 Balloon How often must a borrower receive an annual privacy notice? 1. As long as they are customers 2. Every 6 months 3. Only at closing 4. With initial disclosures, then annually for the first 5 years. - ANSWER-Correct answer is 1 As long as they are customers Who is required to comply with the Do Not Call list? 1. National banks 2. Airlines 3. Political organization 4. Loan officers - ANSWER-Correct answer is 4 Loan officers Examples of Red Flags include all of the following except: 1. Fraud alert on credit report 2. Documentation which appears altered or forged 3. Address discrepancies 4. Credit scores - ANSWER-Correct answer is 4 Credit scores The Patriot Act requires loan originators to: 1. Check all gift donors against the known terrorist list 2. Report suspicious individuals 3. Keep records with customer identifying information for years. 4. Verify citizenship/legal residency before submitting a file to underwriting. - ANSWER-Correct answer is 1 Check all gift donors against the known terrorist list Which disclosure is due within 3 business days of application? 1. Fair Housing Disclosure 2. HUD-1 3. ECOA Notice 4. Servicing Disclosure - ANSWER-Correct answer is 4 Servicing Disclosure What is the penalty for Red-Flag non-compliance? 1. $5,000 per incident 2. $2,500 per incident 3. $10,000 per incident 4. $3,500 per incident - ANSWER-Correct answer is 4 $3,500 per incident The fastest permissible closing time under MDIA is: 1. 3 business days 2. 5 business days 3. 7 business days 4. 10 business days - ANSWER-Correct answer is 3 7 business days According to MDIA, when must you provide a copy of the appraisal to your borrower? 1. 3 business days prior to settlement 2. At settlement 3. 1 business day prior to settlement 4. Within 90 days after a borrower request for the appraisal - ANSWER-Correct answer is 1 3 business days prior to settlement If you mail a re-disclosed TIL, How many days must you wait to close? 1. 3 business days 2. 5 business days 3. 6 business days 4. 10 business days - ANSWER-Correct answer is 3 6 business days The Real Estate Settlement Procedures Act (RESPA) falls under the control of which agency? 1. HUD/CFPB 2. Federal Reserve 3. SEC 4. State Regulators - ANSWER-Correct answer is 1 HUD/CFPB Which of the following oversees MDIA? 1. CFPB 2. HUD 3. State Attorney;s General 4. Dept of Veteran Affairs - ANSWER-Correct answer is 1 CFPB Which of the following documents itemizes all settlement costs including lender charges? 1. Agreement of sale 2. HUD-1/Settlement Statement 3. Form 1003 4. Forbearance agreement - ANSWER-Correct answer is 2 HUD-1/Settlement Statement According to the Truth-in Lending Act (TILA), the term "refinance" applies to : 1. A change in payment schedule 2. A reduction in the APR 3. The renewal of a single payment obligation with no change in the original term. 4. The satisfaction of an existing obligation and its replacement by a new obligation - ANSWER-Correct answer is 4 The satisfaction of an existing obligation and its replacement by a new obligation Which of the following methods of disclosure does NOT meet the requirement of the Equal Credit Opportunity Act (ECOA)? 1. E-Mail 2. Mailed Letter 3. Telephone 4. Faxed letter - ANSWER-Correct answer is 3 Telephone TIL is the acronym for: 1. Time Intensive Loans Act 2. Title and Interest Lending Act 3. Title Investigation Loans 4. Truth In Lending Act - ANSWER-Correct answer is 4 Truth In Lending Act RESPA is the Acronym for: 1. Real Estate Sales Procurement Act 2. Real Estate Process Act 3. Real Estate Settlement Procedures Act 4. Rights, Equalization and Processing Act - ANSWER-Correct answer is 3 Real Estate Settlement Procedures Act HMDA is the acronym for 1. House and Mortgage Deposit Act 2. Home Mortgage Discovery Act 3. Home Mortgage and Development Act 4. Home Mortgage Disclosure Act - ANSWER-Correct answer is 4 Real Estate Settlement Procedures Act FIRREA is the acronym for: 1. Financial Institution reform, Recovery and Enforcement Act 2. Fair Institutional Rules, Regulations and Equalization Act 3. Federal Institution Recover, Reform and Executive Act 4. Falsification of Restoration, Recover and Extrication Act - ANSWER-Correct answer is 1. Financial Institution reform, Recovery and Enforcement Act FH/Act is the acronym for: 1. Fair Habitation Act 2. Federal Housing Act 3. Fair Home Act 4. Fair Housing Act - ANSWER-Correct answer is 4. Fair Housing Act FCRA is the acronym for: 1. Federal Credit Reporting Act 2. Federal Certificate of Reimbursement Act 3. Fair Credit Reporting Act 4. Federal Community Redevelopment Act - ANSWER-Correct answer is 3. Fair Credit Reporting Act CFPB is the acronym for: 1. Congressional Fair Public Business Act 2. Consumer Financial Protection Bureau 3. Consumer Federal Policy Bureau 4. Congressional Federal Protection Board - ANSWER-Correct answer is 2. Consumer Financial Protection Bureau ECOA os the acronym for: 1. Equal Credit Opportunity Act 2. Equal Community Opportunity Act 3. Equity Conservation and Organization Act 4. Equal Contribution and Options Act - ANSWER-Correct answer is 1. Equal Credit Opportunity Act CRA is the acronym for: 1. Congressional Reclamation Act 2. Community Reinvestment Act 3. Community Redevelopment Act 4. Cost of Reinvestment Act - ANSWER-Correct answer is 2. Community Reinvestment Act APR is the acronym for : 1. Average Percentage Rate 2. All-Inclusive Percentage Rate 3. Annual Percentage Rate 4. Amortized percentage Rate - ANSWER-Correct answer is 3. Annual Percentage Rate Which of the following under RESPA, could NOT provide settlement services for the loan and purchase of an owner occupied property? 1. Someone who holds a power of attorney 2. The lender originating the loan 3. A licensed escrow officer 4. A licensed attorney - ANSWER-Correct answer is 1. Someone who holds a power of attorney The only advance fee borrower may be charged before receiving GFE is: 1. An application fee 2. An appraisal fee 3. A GFE preparation fee 4. A credit report fee - ANSWER-Correct answer is 4. A credit report fee What is the penalty for a loan officer violating RESPA by paying a referral fee to a real estate agent? 1. $10,000/three years prison 2. $10,000/one year prison 3. $1,000/one year suspension 4. $5,000/one year prison - ANSWER-Correct answer is $10,000/one year prison In a residential transaction, when is the use of a HUD-1 statement NOT required? 1. When the seller carries the mortgage 2. refinance transaction 3. FHA/VA loans 4. A HECM - ANSWER-Correct answer is 1. When the seller carries the mortgage According to RESPA, where must the YSP disclosed? 1. Truth in Lending Disclosure 2. Notice of Right to cancel 3. Good faith estimate 4. APR Calculation - ANSWER-Correct answer is 3. Good faith estimate RESPA regulations require that an annual escrow statement be provided to the borrower within what time frame? 1. 10 days after the end of the calendar year 2. Annually 3. 30 days BEFORE end of the calendar year 4. Annually 15 days after the funding of the loan by new serviser. - ANSWER-Correct answer is 2. Annually - ANSWER-Correct answer is - ANSWER-Correct answer is - ANSWER-Correct answer is - ANSWER-Correct answer is - ANSWER-Correct answer is - ANSWER-Correct answer is - ANSWER-Correct answer is