Under RESPA, when a mortgage loan's servicing is transferred to a new servicer, the borrower must generally receive a notice of transfer from the transferor at least how many days before the effective date?

Giải thích

RESPA requires the transferor (old) servicer to send a servicing transfer notice at least 15 days before the effective date of transfer, and the transferee (new) servicer generally must send its notice within 15 days after. Five days is too short, and thirty or sixty days is not the required lead time. There is also a 60-day grace period during which payments to the old servicer cannot be treated as late.