FinanceQuestion 81 of 120
The Real Estate Settlement Procedures Act (RESPA) primarily regulates:
a.Closing (settlement) cost disclosures and prohibits kickbacks
b.Zoning of residential neighborhoods
c.The design of TREC contract forms
d.Property tax assessment methods
Explanation
RESPA governs the disclosure of settlement costs on federally related mortgage loans and prohibits kickbacks and unearned referral fees. It works alongside TILA, which addresses the cost of credit.
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