Under RESPA, who provides the HUD information booklet and the good-faith estimate before close of escrow?

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Multiple Choice

Under RESPA, who provides the HUD information booklet and the good-faith estimate before close of escrow?

The lender is responsible for these disclosures. Under RESPA, the borrower must receive the HUD information booklet (the RESPA information booklet) and the Good Faith Estimate from the lender early in the process, specifically within a short period after loan application, so the borrower can compare loan terms and understand estimated settlement costs before closing. The Good Faith Estimate estimates final closing costs, while the booklet explains the borrower’s rights and how RESPA protects them. The title company and real estate broker don’t provide these regulatory disclosures; their roles relate to the closing process and transaction coordination, not issuing the required RESPA disclosures.

The lender is responsible for these disclosures. Under RESPA, the borrower must receive the HUD information booklet (the RESPA information booklet) and the Good Faith Estimate from the lender early in the process, specifically within a short period after loan application, so the borrower can compare loan terms and understand estimated settlement costs before closing. The Good Faith Estimate estimates final closing costs, while the booklet explains the borrower’s rights and how RESPA protects them. The title company and real estate broker don’t provide these regulatory disclosures; their roles relate to the closing process and transaction coordination, not issuing the required RESPA disclosures.

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