Home Loans 101: What is RESPA?
What's RESPA? Find out...
The Real Estate Settlement Procedures Act (RESPA) helps consumers by providing clear information about settlement costs and reducing certain fees.
RESPA was signed into law in December 1974 and went into effect on June 20, 1975. It ensures that lenders and mortgage servicers disclose all the costs associated with buying a home, giving buyers a better understanding of their financial responsibilities.
RESPA also prohibits referral fees and kickbacks, making sure that homebuyers are not influenced by hidden incentives. This law aims to create a fair and transparent real estate market, protecting the rights and financial well-being of consumers.
1477465, UNM Financial Group LLC, 1 Bridge Plaza N, Fort Lee, NJ 07024 (201) 937-8120, Licensed by the N.J. Department of Banking and Insurance, Broker will not make any mortgage loan commitments or fund any mortgage loans. Broker arranges loans with third-party providers.
266137, UNM Financial Group LLC, 1 Bridge Plaza N, Fort Lee, NJ 07024, 201-482-8011, Licensed by the N.J. Department of Banking and Insurance, Broker will not make any mortgage loan commitments or fund any mortgage loans. Broker arranges loans with third-party providers.
Brian Youngmok Chung, Residential Mortgage Loan Originator, 266137, UNM Financial Group LLC,1 Bridge Plaza N, Fort Lee, NJ 07024
UNM Financial Group LLC, 1 Bridge Plaza N, Fort Lee, NJ 07024, 1477465 , Residential Mortgage Loan Company
Brian Youngmok Chung, Residential Mortgage Loan Originator, 266137, UNM Financial Group LLC,1 Bridge Plaza N, Fort Lee, NJ 07024
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