FinancingCâu 74 / 120
The Real Estate Settlement Procedures Act (RESPA) primarily aims to:
a.Disclose settlement costs and prohibit kickbacks in federally related mortgage loans
b.Set maximum interest rates
c.Regulate real estate license exams
d.Require flood insurance
Giải thích
RESPA requires disclosure of settlement costs to borrowers and prohibits kickbacks and unearned referral fees among settlement service providers. It applies to most federally related residential mortgage loans. Its goal is transparency and fairness in the closing process.
Trích dẫn luật: RESPALuyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A conventional loan is one that is:
- A borrower obtains a $300,000 loan and pays 2 discount points. The dollar amount paid in points is:
- A buyer purchases a home for $400,000 with a $320,000 loan. The loan-to-value (LTV) ratio is:
- The federal Truth in Lending Act (TILA), implemented through Regulation Z, requires lenders to disclose the:
- California usury law generally limits the interest a private lender may charge, but a major exception exists for:
- A fully amortized loan is one in which:
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Đội Ngũ Biên Tập PrepPass · Đối chiếu với California DRE Real Estate Salesperson License Exam · Quy trình kiểm tra