Under RESPA, the lender is required to provide the borrower with

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Under RESPA, the lender is required to provide the borrower with

Under RESPA, borrowers must receive disclosures that help them understand settlement costs before closing. The lender must provide two things: a HUD-authored information booklet that explains the mortgage process and settlement costs, and a good-faith estimate of closing costs that outlines the expected costs of the transaction. These disclosures are typically given early—within three business days after the loan application—so the borrower can compare offers and avoid surprises at closing. Therefore, this option is the best answer because it captures both required items and the timing. The other choices fall short because a good-faith estimate is not provided only at closing, and information booklets alone do not satisfy RESPA's requirement for an estimated cost disclosure.

Under RESPA, borrowers must receive disclosures that help them understand settlement costs before closing. The lender must provide two things: a HUD-authored information booklet that explains the mortgage process and settlement costs, and a good-faith estimate of closing costs that outlines the expected costs of the transaction. These disclosures are typically given early—within three business days after the loan application—so the borrower can compare offers and avoid surprises at closing. Therefore, this option is the best answer because it captures both required items and the timing. The other choices fall short because a good-faith estimate is not provided only at closing, and information booklets alone do not satisfy RESPA's requirement for an estimated cost disclosure.

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