What initial step is required for error resolution procedures under RESPA?

For error resolution procedures under the Real Estate Settlement Procedures Act (RESPA), the correct initial step is for the borrower to provide a written notice to the lender detailing the alleged error. This written communication is essential as it formally initiates the error resolution process. According to RESPA guidelines, this notification must include specific information regarding the dispute, such as the nature of the error and the necessary details that can help the lender address the claim effectively.

By requiring the borrower to submit a written notice, RESPA ensures that there is a clear and documented communication of the issue. This helps protect the rights of the borrower and outlines the responsibilities of the lender in responding to and resolving the error. The lender is then obligated to investigate the claim and respond within a specified timeframe, promoting transparency and accountability in the mortgage lending process.

In summary, this initial step of written notice is crucial as it sets the foundation for addressing any discrepancies in the loan servicing or billing procedures, therefore ensuring that both parties can engage in a constructive resolution.