Real Estate Settlement Procedures Act (RESPA) The federal law ensuring that the buyer and seller in a real estate transaction have knowledge of all settlement costs when the purchase of a one- to four-family residential dwelling is financed by a federally related mortgage loan. Federally related loans include those made by savings and loans, insured by the FHA or VA, administered by HUD, or intended to be sold by the lender to an agency.

Verified by MonsterInsights