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1 vote
The Real Estates Settlement Procedures Act applies to:

a: Residential loans
b: Commercial Loans
c: Residential investment properties such as condos and duplexes
d: Residential vacant lot loans

1 Answer

6 votes

Final answer:

RESPA applies to residential loans for one-to-four family properties and does not typically cover commercial loans, residential investment properties, or vacant lot loans.

Step-by-step explanation:

The Real Estate Settlement Procedures Act (RESPA) applies to federally related mortgage loans. This primarily includes residential loans that are secured by a mortgage placed on a one-to-four family residential property. Therefore, the correct answer is a: Residential loans. RESPA does not cover commercial loans, investment properties such as condos or duplexes, or vacant lot loans unless they will be used for a residential purpose and a mortgage is obtained.

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