Respa is con - Study guides, Class notes & Summaries

What purpose does escrow analysis serve? Answer An aggregate escrow analysis (Annual Escrow Statement) is provided to borrowers annually, pursuant to Section 10 of RESPA. It's purpose is the prevent escrow overages. According to Section 10, the cushion of funds maintained in the escrow account cannot exceed one sixth (two months) of the annual cost of taxes and insurance. The regulations requiring the Loan Estimate and Closing Disclosure Answer TILA-RESPA Integrated Disclosure (TRID) Rule ...

Real Estate Settlement Procedures Act (RESPA) is implemented as: - Answer - A. Regulation B B. Regulation X C. Regulation A D. Regulation Z B. Which government agency enforces the RESPA regulations? - Answer - A. CFPB B. FCC C. FHA D. FTC A. RESPA is concerned with: - Answer - A. Kickbacks B. Credit reports C. Triggering terms in ads D. U.S. security A. The Good Faith Estimate/Loan Estimate must be sent to the borrower within how many business days of receiving a loan ...