RESPA Exam Study Guide Solutions
R.E.S.P.A - ANSWER-Real Estate Settlement Procedures Act
What agency administers and enforces the rules and regulations established under RESPA? -
ANSWER-Consumer Financial Protection Bureau
Section 8 - ANSWER-Prohibits giving or receiving a fee, kickback, or an...
Regulation X - ANSWER✔✔-Issues the rules for RESPA
APR must be initially disclosed - ANSWER✔✔-Within three business days of application
When can the transaction proceed following initial disclosure of APR? - ANSWER✔✔-The transaction can
proceed to closing after seven business day have elapsed from disclosures
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