Regulation X - Real Estate Settlement Procedures Act requires certain disclosures to be provided within three business days of receiving an application:

Regulation X, which implements the Real Estate Settlement Procedures Act (RESPA), mandates that specific disclosures must be provided to borrowers within three business days of receiving a mortgage loan application. This requirement ensures that consumers are aware of the costs associated with their mortgage, including the Good Faith Estimate and other pertinent loan details. The objective is to promote transparency in the mortgage process, giving borrowers essential information to make informed decisions about their loans. By adhering to this timeline, lenders help to protect borrowers and foster trust in the mortgage lending system.