Regulations

Question 1

What does RESPA stand for? RESPA is Regulation _ .

Answer 1

Real Estate Settlement Procedures Act

Regulation X

Question 2

RESPA applies to what transactions?

Answer 2

Mortgage loans on 1-4 unit residential properties.

Question 3

What is the regulation that prohibits “unfair or deceptive acts or practices”?

Answer 3

Section 5 of the FTC Act (Federal Trade Commission Act)