Finance
Under RESPA, which of the following is prohibited?
ARequiring title insurance
BKickbacks for referrals of settlement services✓ Correct
CCharging origination fees
DRequiring escrow for taxes and insurance
Explanation
RESPA (Real Estate Settlement Procedures Act) prohibits kickbacks and unearned fees for referrals of settlement services such as title insurance, appraisals, or mortgage services.
Related Kentucky Finance Questions
- The Kentucky Housing Corporation (KHC) provides:
- A Kentucky home's purchase price is $350,000. The buyer gets a conventional loan at 90% LTV. The lender requires PMI at 0.6% annually. What is the monthly PMI cost?
- A Kentucky borrower's front-end DTI is 26% and back-end DTI is 38%. The lender's conventional loan guidelines require a maximum back-end DTI of 36%. The borrower:
- Which of the following describes a balloon mortgage in Kentucky?
- In Kentucky, a satisfaction of mortgage is recorded when:
- In Kentucky, negative amortization on a mortgage means:
- In Kentucky, a HELOC (Home Equity Line of Credit) typically has a variable interest rate based on:
- A Kentucky buyer is purchasing a home with a VA loan. VA appraisers establish a Certificate of Reasonable Value (CRV) primarily to:
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →