What is one of the requirements of RESPA related to the Closing Disclosure?

One of the crucial requirements of the Real Estate Settlement Procedures Act (RESPA) concerning the Closing Disclosure is that it must be complete and provided to the borrower at least three business days prior to closing. This is designed to give borrowers ample time to review the terms, costs, and other important details associated with their mortgage settlement. By ensuring that the Closing Disclosure is complete and delivered ahead of time, RESPA allows buyers to better understand their financial obligations and make informed decisions before finalizing the purchase of a home. This requirement also serves to promote transparency and protect consumers in real estate transactions.

The other choices do not align with the RESPA guidelines regarding the Closing Disclosure, as they either misstate the timing, the scope of recipients, or the nature of confidentiality in the context of this document.