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What is the main purpose of RESPA?

Updated: 4/28/2022

Wiki User

∙ 11y ago

Best Answer

Federal real estate Settlement Procedures Act (RESPA) was enacted in 1974.

The purpose of RESPA and Regulation X are to:

*help consumers become better shoppers for settlement closing services.

*eliminate kickbacks and referral fees that unnecessarily increase costs of certain settlement services.

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∙ 11y ago

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