Understanding the Real Estate Settlement Procedures Act (RESPA)

The Real Estate Settlement Procedures Act (RESPA) is federal law (found in 12 U.S.C.A. §§ 2601 et seq.) that pertains to transactions in which there is a “federally related mortgage loan.” RESPA places controls over the settlement process (close of escrow) for residential real estate transactions where the federally related mortgage proceeds are being used to finance the purchase of a unit that was designed principally for the occupancy of from one to four families. RESPA mandates that such loans must be made by a lender whose deposits or accounts are insured by the Federal Savings and Loan Insurance Corporation, the Federal Deposit Insurance Corporation, or any other agency of the federal government, or a lender who is regulated by the Federal Home Loan Bank Board or any other agency of the federal government.

Subscription Required to Continue Reading

To view the full HOA Featured Article, you must have a Subscription with HOA Member Services

Become a Member

Personal Monthly

$ 12.70 /month
  • Access to over 600 Articles & Case Decisions
  • Access to hundreds of Resources
  • HOA Newsletter
  • Free Copy of HOA LIVING
  • 25% OFF Download Forms
  • 1 User

Personal

$ 97 Annual
  • Access to over 600 Articles & Case Decisions
  • Access to hundreds of Resources
  • HOA Newsletter
  • Free Copy of HOA LIVING
  • 25% OFF Download Forms
  • 1 User

Pro

$ 297 Annual
  • Access to over 600 Articles & Case Decisions
  • Access to hundreds of Resources
  • HOA Newsletter
  • Free Copy of HOA LIVING
  • Free Unlimited Access to Download Forms (save $1000s!)
  • Unlimited Personal Support from HOA Attorney
  • 1 User

HOA Team

$ 347 Annual
  • Access to over 600 Articles & Case Decisions
  • Access to hundreds of Resources
  • HOA Newsletter
  • Free Copy of HOA LIVING
  • Free Unlimited Access to Download Forms (save $1000s!)
  • Unlimited Personal Support from HOA Attorney
  • Up to 10 Users
Shopping Cart

Get Your FREE
HOA Living Guide

 Get ready to level up your community! Dive into our guide for homeowners and management personnel in neighborhoods run by homeowners associations. Download now for essential tips and exclusive resources— improve your community with one click! 

Success, check your email for your guide!

Scroll to Top