Federal Mortgage Law · 24% of the SAFE exameasy
Correct answer: At settlement or within 45 days after settlement
RESPA Section 10 requires that the initial escrow statement be delivered to the borrower at settlement or within 45 days of settlement. This statement must disclose monthly amounts for taxes, insurance, and other escrowed items, anticipated disbursement dates, the cushion amount, and a trial running balance. The 3-business-day rule (A) applies to the Loan Estimate under TRID, not the escrow statement. Options B and D cite timeframes not specified in RESPA for this disclosure.
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