Definition from Nolo’s Plain-English Law Dictionary
A disclosure that real estate mortgage lenders must, under the Real Estate Settlement Procedures Act (RESPA), give to all mortgage loan applicants within three days of when they apply. The disclosure must estimate all settlement charges the homebuyer will need to pay at closing, such as the lender's fees and other closing costs.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:16 pm