Question

The real estate settlement procedures act (RESPA) does NOT require

A. Disclosure of a good faith estimate of closing costs
B. Use of the HUD -1 settlement statement form at closing
C. Receipt by a borrower of a booklet entitled ""settlement costs and you.
D. Disclosure of the annual percentage rate (APR)

Answer 1

The Real Estate Settlement Procedures Act (RESPA) does not require disclosure of the annual percentage rate (APR), but it does require other things like a good faith estimate of closing costs and the use of specific forms.

Step-by-step explanation:

The real estate settlement procedures act (RESPA) does not require disclosure of the annual percentage rate (APR). RESPA is a federal law that aims to protect homebuyers and borrowers by promoting transparency and preventing unnecessary costs during the settlement process. It does, however, require several other things:

1. Disclosure of a good faith estimate of closing costs
2. Use of the HUD-1 settlement statement form at closing
3. Receipt by a borrower of a booklet entitled "Settlement Costs and You"