Finance
What is the purpose of RESPA (Real Estate Settlement Procedures Act)?
ATo regulate mortgage interest rates
BTo require disclosure of settlement costs and prohibit kickbacks✓ Correct
CTo set maximum loan amounts
DTo guarantee mortgages for low-income buyers
Explanation
RESPA requires lenders to disclose settlement costs, prohibits kickbacks between settlement service providers, and regulates escrow accounts to protect consumers.
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