RESPA - Real Estate
Settlement Procedures Act

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Highlights

HUD is requiring that loan originators provide borrowers with a standard Good Faith Estimate that clearly discloses key loan terms and closing costs and that closing agents provide borrowers with a new HUD-1 settlement statement. New RESPA regulations were published November 17, 2008 and are scheduled to take full effect on January 1, 2010. The "New RESPA Rule FAQs" were comprised from industry questions and are posted to facilitate implementation of these new requirements.

	New RESPA Rule FAQs
	RESPA Final Rule
	Withdrawal of Revised Definition of "Required Use"
	Good Faith Estimate
	HUD-1
	HUD1-A
	Regulatory Impact Analysis

Consumers

RESPA is about closing costs and settlement procedures. RESPA requires that consumers receive disclosures at various times in the transaction and outlaws kickbacks that increase the cost of settlement services. RESPA is a HUD consumer protection statute designed to help homebuyers be better shoppers in the home buying process, and is enforced by HUD.

	More about RESPA
	FAQ's for Homebuyers
	FAQ's about Escrow Accounts
	Know Your Borrower's Rights
	Your Rights and the Responsibilities of the Mortgage Servicer
	Sample Complaint to Lender
	Buying Your Home: Settlement Costs
	Property Tax Alert
	Private Mortgage Insurance (PMI) Act Information
	State and Local Consumer Agencies
	Other Federal Resources

Industry

	Statute
	Final Rules & Regulations
	Proposed Rules
	Statements of Policy
	Program Guidance
	Federal Register Notices
	Public Guidance Documents
	FAQ's for Industry
	Settlement Agreements
	Joint Report to Congress
	Legal Proceedings