RESPA

Definition

Real Estate Settlement Procedures Act. Legislation passed by the U.S. government in 1974 designed to prohibit the use of kickbacks in real estate transactions. Kickbacks between lenders and third parties had been inflating the overall cost of real estate transactions.

Use RESPA in a sentence

You should always make sure that any deal that you do is not in any violation at all of the RESPA.

​ Was this Helpful? YES  NO 5 people found this helpful.

I read all about the respa and I wanted to know certain things about it, so I talked to an expert in that area.

​ Was this Helpful? YES  NO 5 people found this helpful.

A buyer does not have to worry so much about bribery and corruption between their lender and third parties because of the protections provided by the RESPA law of 1974.

​ Was this Helpful? YES  NO 9 people found this helpful.

Show more usage examples...

Related Terms

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
resource allocation good faith estimate