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Financing, 9% of the examination

Real Estate Settlement Procedures Act (RESPA)

The federal law governing settlement-service disclosures, servicing, escrow accounts, and referral-fee practices for covered mortgage loans.

Also called: Regulation X

RESPA prohibits giving or accepting a thing of value for referrals of settlement-service business and prohibits unearned fee splitting. It does not set interest rates or require a consumer to choose the cheapest provider. Regulation X implements the statute.

See also

Truth in Lending Act (TILA)The federal credit-disclosure law requiring standardized disclosure of consumer credit costs and terms.

Test the distinction

A relevant question from Financing, selected because its facts or explanation use this concept.

Financing ยท 9%Financing/Credit Laws

Which statement correctly matches TRID disclosures and RESPA settlement rules?

Written to DRE's published topic list. Not a real examination question, since reproducing those is a misdemeanor under B&P Code section 123.

Primary sources

Use these authorities when a course summary, forum answer, or older flashcard conflicts with the current California rule.

Where this is tested

FinancingAll eight official DRE financing topics in one California-specific guide, from loan structures and government programs to foreclosure, credit laws, brokerage, and MLO licensing.9%Practice Financing24 questions on this area, every option explained.Practice

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