Category Archives: RESPA
What Is A RESPA Claim?
The Real Estate Settlement Procedures Act (RESPA) is a piece of federal legislation that protects homebuyers from underhanded tactics that could inflate the costs related to settling their real estate. RESPA requires transparency in settlement costs and prohibits certain practices, such as kickbacks or referral fees. A “RESPA claim” refers to a lawsuit filed… Read More »
Common Violations Of The Real Estate Settlement Procedures Act (RESPA)
The Real Estate Settlement Procedures Act (RESPA) is a federal consumer protection law established in 1974 meant to safeguard home buyers from predatory lenders. RESPA ensures that disclosures are given to buyers and sellers during the mortgage application process. It also seeks to safeguard consumers against unethical business practices such as kickbacks, surcharges, and… Read More »
RESPA Violations Found in Connection with Mortgage Companies & Real Estate Agents
In August, one mortgage corporation (“Freedom”) was found providing illegal incentives – such as cash payments, catered parties, and paid subscription services – to real estate agents and brokers in exchange for mortgage loan referrals to homeowners (who were specifically then referred back to Freedom). This conduct violates the Real Estate Procedures Act (RESPA)… Read More »