Finance
Which federal law prohibits lenders from requiring a borrower to use a specific title company or settlement service provider as a condition of the loan?
ATILA
BRESPA✓ Correct
CECOA
DHMDA
Explanation
RESPA (Section 9) prohibits sellers from requiring buyers to use a particular title company as a condition of the sale. More broadly, it prohibits tied arrangements where loan approval depends on using a specific service provider.
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