<Tr> <Th_colspan="2"> Major amendments </Th> </Tr> <Tr> <Td_colspan="2"> P.L. 94 - 205, 89 Stat. 1157 (1976) </Td> </Tr> <P> The Real Estate Settlement Procedures Act (RESPA) was a law passed by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. § § 2601--2617 . The main objective was to protect homeowners by assisting them in becoming better educated while shopping for real estate services, and eliminating kickbacks and referral fees which add unnecessary costs to settlement services . RESPA requires lenders and others involved in mortgage lending to provide borrowers with pertinent and timely disclosures regarding the nature and costs of a real estate settlement process . RESPA was also designed to prohibit potentially abusive practices such as kickbacks and referral fees, the practice of dual tracking, and imposes limitations on the use of escrow accounts . </P> <P> RESPA was enacted in 1974 and was originally administered by the Department of Housing and Urban Development (HUD). In 2011, the consumer financial protection bureau (CFPB), created under the provisions of the Dodd - Frank Wall Street Reform and Consumer Protection Act, assumed the enforcement and rulemaking authority over RESPA . On December 31, 2013, the CFPB published final rules implementing provisions of the Dodd - Frank Act, which direct the CFPB to publish a single, integrated disclosure for mortgage transactions, which included mortgage disclosure requirements under the truth in lending Act (TILA) and sections 4 and 5 of RESPA . As a result, Regulation Z now houses the integrated forms, timing, and related disclosure requirements for most closed - end consumer mortgage loans . </P>

Under the real estate settlement procedures act (respa) lenders are
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