Question

All of the following are required by the Real Estate Settlement Procedures Act (RESPA), EXCEPT:

a. Disclosure of a loan estimate of closing costs
b. of the closing disclosure form at closing
c. receipt by a borrower of a booklet entitled "you home loan toolkit"
d. Disclosure of the annual percentage rate (APR)

Answer 1

RESPA requires several disclosures for borrowers, but not the disclosure of the annual percentage rate (APR).

Step-by-step explanation:

The Real Estate Settlement Procedures Act (RESPA) requires several disclosures for borrowers and protects their rights in real estate transactions. However, one of the things NOT required by RESPA is the disclosure of the annual percentage rate (APR). The APR refers to the total cost of borrowing, including interest and fees, expressed as a yearly percentage.