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RESPA Reminder

The Real Estate Settlement Procedures Act (RESPA) further ensures transparency and fairness in the closing and settlement process, prohibiting kickbacks and referral fees that could influence the impartiality of real estate transactions.


RESPA covers loans secured with a mortgage placed on one-to-four family residential properties. Originally enforced by the U.S. Department of Housing & Urban Development (HUD), RESPA enforcement responsibilities were assumed by the Consumer Financial Protection Bureau (CFPB) when it was created in 2011.


NAR continues to work with the CFPB and industry partners to ensure that helpful RESPA guidance is provided to practitioners.



Real estate professionals first learn about RESPA when they are taking courses to obtain a real estate license. In New Mexico, the Act is also a part of the material covered during a broker's annual Core Course for license renewal with the NMREC.



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