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Real Estate Settlement Procedures Act (RESPA)

Real Estate Settlement Procedures Act (RESPA) is a federal statute, originally passed in 1974, that contains provisions that govern the way companies involved with a real estate closing must treat each other and the consumer. For example, one section of RESPA requires lenders to give consumers a written Good Faith Estimate within three days of making an application for a loan. Another section of RESPA prohibits title companies from giving referral fees to brokers for steering business to them.
(more Real Estate Settlement Procedures Act (RESPA) information below useful links)

See Also

Quit-claim Deed

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