Industry regulations, such as RESPA, can affect your business by ______. Indirectly affecting real estate and limiting how you may conduct business.

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09-08-2022
Business

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Industry regulations, such as RESPA, can affect your business by ______. Indirectly affecting real estate and limiting how you may conduct business.

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Tutorconsortium358 Tutorconsortium358 · Answer 1 · 2022-08-13T20:03:29+02:00

Indirectly affecting real estate and limiting how you may conduct business.

Industry regulations, such as RESPA, can affect your business by Indirectly affecting real estate and limiting how you may conduct business

What is RESPA?

RESPA stands for Real Estate Settlement Procedures Act.

homebuyers and sellers and forbidding abusive settlement tactics, RESPA aims to lower excessively high settlement costs.

All Borrowers shall be informed of the potential of a transfer of mortgage servicing, real estate transactions, settlement services, and applicable consumer protection regulations.
In addition to detailed representations of actual settlement costs, borrowers are entitled to initial and annual escrow account statements.
RESPA prevents sellers from pressuring borrowers to buy title insurance from particular companies, outlaws kickbacks, referral fees, and unearned fees, and forbids loan servicers from requiring unreasonably large escrow accounts.

To learn more about RESPA visit:

https://brainly.com/question/13678116

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