In Accordance with RESPA, Whenever a Buyer Obtains a New

question 29

Multiple Choice

In accordance with RESPA, whenever a buyer obtains a new first mortgage loan from a chartered or insured lender, when the loan is insured by the FHA or guaranteed by the VA, or when the loan will be sold to one of the federally related secondary mortgage market agencies, an estimate of loan costs must be provided by the lender within:

• A) 3 business days
• B) 5 business days
• C) 30 calendar days
• D) 90 calendar days

---

Definitions:

Mucous Cells

Cells that are found in the salivary glands and the lining of the stomach and that secrete mucus.

Stomach Lining

The inner layer of the stomach, which contains glands that produce stomach acid and enzymes for digestion.

Protein Synthesis

The process by which cells build proteins, consisting of transcription (DNA to mRNA) and translation (mRNA to protein).

Vitamin B6

A water-soluble vitamin crucial for brain development and function and helps the body convert food into energy.