If the referral takes place over the phone, the Affiliated Business Disclosure information must be communicated orally by the person making the referral, with written disclosure made within _____ business days following the phone referral.

The correct time frame for providing written disclosure after an oral referral over the phone is three business days. This requirement is in line with regulations set forth by the Real Estate Settlement Procedures Act (RESPA).

The purpose of this stipulation is to ensure transparency and inform the consumer about potential conflicts of interest when referrals occur between affiliated businesses, such as real estate agents and title insurance companies. By mandating that the written disclosure follows within three business days, it allows consumers to receive pertinent information in a timely manner, thus enhancing their decision-making process.

While other time frames may seem reasonable, they do not align with the established legal requirements, which specifically designate three business days as the appropriate interval for such disclosures. This framework supports ethical practices in real estate transactions and fosters trust between consumers and service providers.