The federal consumer protection law that requires disclosure of estimated settlement costs in the sale of residential property involving a federally insured lender is:
Answer: (b), RESPA
"RESPA" stands for the Real Estate Settlement Procedures Act, a federal consumer protection law that requires disclosure of estimated settlement costs in the sale of residential property which is to be financed by a federally insured lender. The law also prohibits certain types of referral and other fees, sets rules for escrow accounts, and requires notice to borrowers when servicing of a home loan is transferred.
