What is RESPA (Real Estate Settlement Procedures Act)? | REAL-ESTATE-SALESPERSON Exam Prep

RESPA is a federal law that requires lenders to provide borrowers with clear disclosures about settlement costs and prohibits certain practices like kickbacks and referral fees that can inflate closing costs. 📚 Learn more about RESPA (Real Estate Settlement Procedures Act) and other key terms for your REAL-ESTATE-SALESPERSON exam at Open Exam Prep. 🎯 This term appears on: REAL-ESTATE-SALESPERSON 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 RESPA (Real Estate Settlement Procedures Act) definition: https://www.open-exam-prep.com/glossary/respa 💡 Exam Tip: RESPA = Settlement disclosure law. Loan Estimate within 3 business days. Closing Disclosure 3 days before closing. Section 8 = NO kickbacks. --- #real-estate #examprep #financeexam #real-estate-salesperson