What Is the Real Estate Settlement Procedures Act (RESPA)? The Real Estate Settlement Procedures Act (RESPA) was enacted by the U.S. Congress in 1975 to provide homebuyers and sellers with complete settlement cost disclosures. RESPA was also introduced to eliminate abusive practices in the real...
The Truth in Lending Act (commonly known as Federal Regulation Z) became operative on July 1, 1969. The purpose of this law, initially, was to promote the informed use of consumer credit by requiring lenders and others (including real estate agents) to make specified disclosures (TIL) on re...
New RESPA regulation finally arrives: HUD has finally pushed out its RESPA regs - six years in the making - as President Bush prepares to leave office. Here's an at-a-glance review of the changes.(Department of Housing and Urban Development, Real Estate Settlement Procedures Act)...