Real Estate Glossary

What's a RESPA?

RESPA is a federal law that regulates certain aspects of the mortgage lending process, including the disclosure of certain information to consumers. It is meant to protect consumers from deceptive practices, by requiring lenders to provide borrowers with detailed information about the costs associated with their mortgage loan and the services provided by the lender or broker. This includes disclosures such as the Good Faith Estimate and HUD-1 Settlement Statement.