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Consumer Protection Laws

Real Estate Settlement Procedures Act (RESPA)

What is the Real Estate Settlement Procedures Act (RESPA)?
The Real Estate Settlement Procedures Act, or RESPA, requires that lenders provide you with accurate and timely disclosures of the costs of settlement, such as loan origination fees (points), broker’s commissions, and title charges. RESPA was designed to prevent abusive practices, such as kickbacks for loan referrals.