Within how many business days must a lender provide a notice about loan fees after receiving a loan application?

The correct timeframe for a lender to provide a notice about loan fees after receiving a loan application is three business days. This requirement is part of the Real Estate Settlement Procedures Act (RESPA) regulations, which were established to ensure transparency and protect consumers in the mortgage lending process. The timely provision of this notice helps borrowers understand the costs associated with their loan, ensuring they are adequately informed before making significant financial decisions. By providing this information within three business days, lenders fulfill their obligation to maintain clear communication and support during the loan application process. This practice not only aids borrowers in comparing loan options but also enhances overall trust in the lending process.