Finance
What is the primary purpose of RESPA?
ATo regulate mortgage interest rates
BTo ensure homebuyers receive disclosures about settlement costs and prevent kickbacks✓ Correct
CTo set maximum loan amounts for FHA loans
DTo require credit checks for all homebuyers
Explanation
RESPA (Real Estate Settlement Procedures Act) requires disclosure of settlement costs to homebuyers and prohibits kickbacks, referral fees, and unearned fee splits between settlement service providers.
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