At What Point In A Mortgage Loan Transaction Must The Anti-Coercion Notice Be Provided?

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 In mortgage loan transactions in the United States, the anti-coercion notice must be provided to the borrower at or before the time the borrower applies for the loan. This notice is a requirement under the Real Estate Settlement Procedures Act (RESPA), which is a federal law aimed at protecting consumers in real estate transactions, including mortgage loans.

The anti-coercion notice informs borrowers that they have the right to select the settlement service providers of their choice, such as title insurance companies, appraisers, and attorneys. It prohibits lenders from pressuring borrowers to use specific service providers or from penalizing borrowers for choosing service providers not recommended by the lender.

By providing the anti-coercion notice at the loan application stage, borrowers are made aware of their rights early in the process, allowing them to make informed decisions about the selection of service providers. This helps promote transparency and consumer choice in mortgage transactions.

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