Which of the following is NOT true regarding the timeline for sending a good faith estimate of closing costs?

The statement about the provision of a good faith estimate of closing costs at closing is not true. The Good Faith Estimate (GFE) is a document that lenders are required to provide to borrowers to outline an estimate of the closing costs associated with a loan. The significant aspect to note is that this estimate must be sent to buyers promptly after the loan application, specifically within three business days.

Providing the GFE at closing would be inconsistent with the purpose of the document, which is to allow borrowers to understand and prepare for the potential costs they will incur. The estimate should be given well in advance of closing so that buyers can review it and make informed decisions. Other options regarding the timing and applicability of the GFE reflect standard practices aligned with regulatory requirements in real estate transactions. Therefore, stating that the estimate must be delivered at closing is misleading and not in line with the established timelines and requirements.