2.6

Question 0

A HUD Home Buyers Booklet is a basic guide for home buyers that must be given to the borrower within ______ business days of applying for a loan.

Answer 0

3

Question 1

The HUD-1 must be furnished to the borrower _________.

Answer 1

before closing

Question 2

The _______ document explains to the borrower that if the servicing of their loan is sold or transferred to another organization, the borrower must be given written notice not less than 15 days before the date of transfer.

Answer 2

Mortgage Servicing Transfer Disclosure Statement

Question 3

If the servicing of your loan is assigned, sold, or transferred to a new servicer, how many days does the present loan servicer have to send you notice in writing?

Answer 3

15 days

Question 4

A ________ is any day in which the offices of the business entity are open to the public for carrying on substantially all of its business functions.

Answer 4

business day

Question 5

The mortgagor has until the date of the _______ to stop the foreclosure process by curing the default.

Answer 5

sheriff’s sale