HUD Home Information - RESPA Disclosure UPDATE - WWW.CJHARRINGTON.COM

The Real Estate Settlement Procedures Act (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. Buyers should be aware of their right to “use” HUD’s closing agent, at no additional fee to them or it is their option to select another title company (at their cost).