RESPA (Real Estate Settlement Procedures Act)
A federal law that governs disclosures in residential mortgage settlements and prohibits kickbacks and unearned fees.
The Real Estate Settlement Procedures Act is a federal law that applies to most residential mortgage loans. It requires lenders to give borrowers disclosures about settlement costs and, under Section 8, prohibits kickbacks, referral fees, and unearned fees among settlement service providers.
Under the combined TRID rule, RESPA and the Truth in Lending Act require the Loan Estimate within three business days of application and the Closing Disclosure at least three business days before closing.
On the exam
Exam trap
Tested in
Residential Mortgages (9% of the exam)
From definition to recall
See this term inside a real exam question.
Pass Florida gives you Florida-specific practice, diagnostics across the 19 exam areas, Trap Library, Math Coach, offline access, and one $39.99 purchase. No subscription. No copied exam questions.
Try 5 free questionsRelated terms
This definition is Florida real estate exam-prep education, not legal, tax, or professional advice. Verify current rules against the official source before relying on them for a real transaction. Back to the full glossary.