Chose the best answer to complete the following statement: In the United States, federally regulated lending institutions are required to disclose information to mortgage or other loan applicants whether their property is on a floodplain as shown on the Flood Insurance Rate Map (FIRM). But the requirement has to be met only _________ days prior to closing.
A) 5
B) 10
C) 15
D) 20

Question

Quizplus · Accepted Answer

Federally regulated lending institutions are required to provide flood zone information to loan applicants 10 days prior to closing. This requirement ensures that borrowers are informed about the potential flood risks associated with their property before finalizing the loan.

Chose the Best Answer to Complete the Following Statement: in the United