Question

The Real Estate Settlements and Procedures Act (RESPA) applies to: Select one: A. those parties who are indirectly related to a real estate transaction such as termite inspectors or flood insurance agents on policies not escrowed. B. installment contracts of residential property for investment. C. all first lien residential mortgages for the purchase of one to four-family homes or condominiums for investment or occupancy. D. all residential mortgages for occupancy only.

Answer 1

D. all residential mortgages for occupancy only.

Step-by-step explanation:

• The act applies to the loan purchases, property investments and equity lines of credit. It proves brokers to give disclosure of borrowers regarding the real estate.