RESPA RoundTable – The Frequently Asked Questions

The Real Estate Settlement and Procedures Act (RESPA) is the federal law which governs the relationships between settlement service providers in real estate transactions. The Act makes it illegal for settlement service providers to give or receive anything of value in exchange for the referral of business in a real estate transaction. The Act also makes it illegal for settlement service providers to require that a borrower use a particular provider in a real estate transaction and sets forth disclosure guidelines when there is a co-ownership of more than one settlement service provider in a real estate transaction.

The Tucson Association of REALTORS annually hosts a RESPA Roundtable organized by the RESPA Committee where licensees can explore these issues and get answers to the most commonly asked questions. In order to obtain a copy of the frequently asked questions all you need to do is click here or click on the stack of RESPA files to the right.

The questions are divided into categories based on settlement service providers. In order to obtain more information about RESPA and its enforcement you can visit the official RESPA pages at HUD.gov.



Written by Theresa Barnabei in: News For You! |

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