Regulation .04 Timing of Notice.

The notice required under Regulation .03 of this chapter shall be provided to a borrower within 10 business days after initial application.

A lender may require borrower to complete a written application before agreeing to begin processing the loan, if that requirement is explained to the applicant.

A lender may not close on a mortgage loan unless the lender has provided the notice required under §A of this regulation.