Escrow & Title
RESPA requires that a Settlement Statement (HUD-1 or Closing Disclosure) be provided to the borrower, which itemizes:
AOnly the lender's charges
BAll charges imposed on the borrower and seller in connection with the settlement✓ Correct
COnly the real estate agent's commission
DThe property tax calculation for the year of sale
Explanation
The Closing Disclosure (replacing the HUD-1 under TRID) itemizes all charges to both buyer and seller in the real estate transaction, including loan costs, prepaid items, escrow deposits, and adjustments.
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