FinanceCâu 81 / 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
Giải thích
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.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- In an adjustable-rate mortgage (ARM), the interest rate is periodically adjusted based on a specified:
- Discount points paid to a lender at closing are typically used to:
- The federal law that requires lenders to disclose the annual percentage rate (APR) and total finance charges to consumers is the:
- Foreclosure under a Texas deed of trust with a power-of-sale clause is often carried out through:
- A borrower's ability to reclaim the property by paying the full debt before a foreclosure sale is known as the:
- In a mortgage assumption, the buyer:
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