When is the Mortgage Servicing Disclosure Statement provided to a borrower?

The Mortgage Servicing Disclosure Statement is provided to a borrower within three business days after the mortgage application is submitted. This timing is crucial as it ensures that borrowers are informed about who will service their loan and what rights they have in terms of service expectations. It also gives them an opportunity to understand the potential for changes in loan servicing, which can impact their payment process and overall loan experience.

Providing the disclosure at this stage also aligns with the regulatory requirements intended to help protect borrowers. This is why this option is the correct choice, as it emphasizes the timeline meant to enhance transparency and borrower awareness right after they begin the mortgage process.