Pregunta
For the purposes of RESPA, federally related loans include
A) loans made by the federal government.
B) loans made by insurance companies.
C) loans made by federal employee pension funds.
D) loans made by lenders whose deposits are insured by federal agencies.
A) loans made by the federal government.
B) loans made by insurance companies.
C) loans made by federal employee pension funds.
D) loans made by lenders whose deposits are insured by federal agencies.
Ask by Blake Perkins. in the United States
Mar 31,2025
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The correct answers are A and D.
Solución

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Mind Expander
RESPA, or the Real Estate Settlement Procedures Act, pertains to various loans to ensure transparency in the home buying process. Among various sources, loans made by lenders whose deposits are insured by federal agencies—like banks insured by the FDIC—are indeed considered federally related loans. This includes mortgage lenders that engage in activities regulated by the federal government.
Understanding the scope of RESPA can minimize risks for buyers and lenders alike. Common mistakes include failing to provide the necessary disclosures to borrowers or not complying with the timeline for delivering settlement statements. It’s crucial to stay informed to avoid litigation and maintain smooth transactions in real estate dealings!

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