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As regards the Real Estate Settlements Procedures Act (RESPA):
A. The costs upon application for the loan or no more than three days thereafter.
B. Should the lender or escrow company require the use of a particular title insurance company and receive any referral fees they could be subjected to a fine and possible imprisonment.
C. The borrower/purchaser must be allowed the right by the escrow agent to inspect the finalized Uniform Settlements Statement one day prior to escrow closing, unless they sign a waive.
D. All of the above are correct statements.
All 3 answers are correct statements regarding the real estate settlements procedure act.
 
 
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Pinky
74810 Points
Educating realtors for 20 years
 
 
Question Details
 
 
Taken: 137 times
Added: 8/18/2008
Liked: 1 time
Taggged: Agent, Estate, Real, Sales
 
 
Exams Using this Question
 
 
Pinky
Founded by Pinky
This exam covers the national portion of the Sales Agent Exam.
 
 
Comments
 
 
1031guy
1031guy says:
Choice A makes no sense. It is a clause hanging in space and seems meaningless.
Posted: 10/15/2011