Multiple Choice
The Real Estate Settlement Procedures Act (RESPA) is a federal law that requires federally chartered or insured lenders to provide buyers and sellers with information on all settlement costs.According to RESPA,loan closing information must be prepared on a special form know as the:
A) Uniform Settlement Statement or HUD-1 form
B) Good-faith estimate
C) Settlement Costs and You booklet
D) Certificate of occupancy
Correct Answer:
Verified
Correct Answer:
Verified
Q5: In certain circumstances,mutual assent between the contracting
Q5: When a party in a contract fails
Q11: Since the issues in many transactions are
Q12: While the principal parties to a transaction
Q12: Contracts for sale may contain sections that
Q13: The final step in a real estate
Q14: Any contract,whether it is for the sale
Q17: At the closing,the buyer will be credited
Q17: In accordance with RESPA,whenever a buyer obtains
Q19: The successful conveyance of real estate depends