what will triggers respa on a purchase?

RESPA requires certain disclosures to be given at time of application. An application is not completed without a purchase contract. Once an application is completed, RESPA says that the required disclosures be sent within 3 business days of completed application. To clarify, Saturday is counted in the 3 business days but Sunday and federal holidays are not counted.

Welcome Rhaedx,

RESPA requires the lender/mortgage company to provide a number of disclosures prior to and after closing. Refer to the section on Respa and required disclosures.

kenstampe,
fyi, saturday is not counted in the 3 day period when respa documents should be delivered. these are only business days. however, saturday is counted in the rescission period after a refinance transaction.