How many business days prior to settlement can a borrower request a copy of the HUD-1?

A borrower can request a copy of the HUD-1 Settlement Statement as little as one business day prior to settlement. This requirement is part of the regulations established under the Real Estate Settlement Procedures Act (RESPA). RESPA mandates that borrowers have the right to review their settlement statements in advance to ensure transparency regarding the costs and fees associated with their mortgage transactions. By allowing the request just one business day before settlement, the law provides a streamlined process for last-minute inquiries while ensuring that borrowers can still receive the necessary information to make informed decisions at closing. This timing is crucial because it encourages borrowers to take an active role in their transaction without placing undue delay on the settlement process.