Real Estate Settlement Procedures Act

Get free proposals from vetted lawyers in our marketplace.

GET FREE PROPOSALS
No upfront payment required. Pay only if you hire.
Home Real Estate Terms Glossary Real Estate Settlement Procedures Act

What is the Real Estate Settlement Procedures Act?

Note that the Real Estate Settlement Procedures Act is a federal US law that imposes controls and restrictions on how lenders of federally backed mortgage and home loans operate. RESPA was formally signed into law back in December 1974, becoming effective on June 20, 1975.

The act requires all lenders and banks to provide you with full and transparent disclosure of costs, fees, as well as their affiliated business arrangements. RESPA has been used to regulate mortgage loans attached to 1-to-4 family residential properties.

Examples of the Application of the Real Estate Settlement Procedures Act

  • Example 1: Prohibits kickbacks
  • Example 2: Limits the use of escrow accounts

Here’s Investopedia’s definition of the Real Estate Settlement Procedures Act (RESPA ).

How ContractsCounsel Works
Hiring a lawyer on ContractsCounsel is easy, transparent and affordable.
1. Post a Free Project
Complete our 4-step process to provide info on what you need done.
2. Get Bids to Review
Receive flat-fee bids from lawyers in our marketplace to compare.
3. Start Your Project
Securely pay to start working with the lawyer you select.

ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


Meet some lawyers on our platform

Dolan W.

865 projects on CC
CC verified
View Profile

Randy M.

20 projects on CC
CC verified
View Profile

Gregory B.

206 projects on CC
CC verified
View Profile

Kristen R.

55 projects on CC
CC verified
View Profile

Meet some of our Real Estate Lawyers

Angelica M. on ContractsCounsel
View Angelica
5.0 (8)
Member Since:
June 13, 2022

Angelica M.

Managing Attorney
Free Consultation
North Carolina
11 Yrs Experience
Licensed in NC
North Carolina Central University School of Law

Angelica McDonald, Esq. has singlehandedly established an in-demand law firm, won several accolades for her incredible work in her community and has her sights set on building a bi-coastal law practice that serves clients from her hometown to Hollywood. She is putting her city of Raeford, North Carolina on the map as the birthplace of the next legal superstar. And she is just at the onset of her career. An astute attorney, Angelica is sought after for her razor-sharp business acumen and her relentless litigation style. With a diverse background in entertainment, media and sports law, as well as business, she represents entrepreneurs and athletes on everything from complex contract negotiation to intellectual property matters, ensuring anything they’ve built is protected.

Recent  ContractsCounsel Client  Review:
5.0

"Angelica was easy to work with and so patient with all of my questions. I would definitely hire her again."

Michael T. on ContractsCounsel
View Michael
5.0 (1)
Member Since:
June 13, 2022

Michael T.

Lawyer
Free Consultation
Fairfax, Virginia
36 Yrs Experience
Licensed in DC, MD, VA
College of William and Mary

I have been in practice since 1990 and practice in D.C., Maryland, and Virginia. I am an experienced litigator and look forward to resolving your legal questions as efficiently as possible.

Recent  ContractsCounsel Client  Review:
5.0

"Easy to work with. Great communication. Helped steer us in the right direction to make sure we filed the right document for our needs."

Richard G. on ContractsCounsel
View Richard
5.0 (1)
Member Since:
June 20, 2022

Richard G.

Attorney
Free Consultation
Greensboro, NC
6 Yrs Experience
Licensed in NC
University of Elon School of Law

Hello! I am an Iowa native trying to bring some Midwest problem-solving to southern civil law. I thoroughly enjoy getting to know the individuals and businesses I assist. I practice estate planning and business formation and, with my litigation experience in mind, I help clients plan to ensure they and their interests are protected in the future.

Danielle G. on ContractsCounsel
View Danielle
5.0 (3)
Member Since:
July 12, 2022

Danielle G.

Attorney and Founder at Danielle D. Giovannone Law Office
Free Consultation
Schenectady, NY
19 Yrs Experience
Licensed in NY
Fordham University School of Law

Danielle Giovannone is the principal of Danielle D. Giovannone Law Office. In her experience, Danielle has found that many business do not require in-house legal counsel, but still need outside counsel that knows their business just as well as in-house counsel. This need inspired Danielle to start her firm. Before starting her firm, Danielle served as Contracts Counsel at Siena College and as an attorney at the New York City Department of Education, Office of the General Counsel. At the NYCDOE, she served as lead counsel negotiating and drafting large-scale commercial agreements, including contracts with major technology firms on behalf of the school district. Prior to the NYCDOE, Danielle worked as an associate at a small corporate and securities law firm, where she gained hands-on experience right out of law school. Danielle has provided legal and policy advice on intellectual property and data privacy matters, as well as corporate law, formation and compliance, employer liability, insurance, regulatory matters, general municipal matters and non-profit issues. Danielle holds a J.D. from Fordham University School of Law and a B.S. from Cornell University. She is active in her Capital District community providing pro bono services to the Legal Project, and has served as Co-Chair to the Niskayuna Co-op Nursery School and Vice President of Services to the Craig Elementary School Parent Teacher Organization. Danielle is a member of the New York State Bar Association.

Recent  ContractsCounsel Client  Review:
5.0

"Danielle is easy to work with, professional and knowledgeable."

Jason Q. on ContractsCounsel
View Jason
Member Since:
June 13, 2022

Jason Q.

Attorney / Owner
Free Consultation
Sarasota, Florida
18 Yrs Experience
Licensed in FL
Wake Forest University School of Law

I am a Florida estate planning and probate attorney helping clients achieve their goals through personalized legal strategies. Excellent communication, thorough preparation, and accurate execution are the keys to success.

AHAJI A. on ContractsCounsel
View AHAJI
Member Since:
July 8, 2022

AHAJI A.

Attorney
Free Consultation
Houston, TX
27 Yrs Experience
Licensed in NC, TX
Indiana University - IUPUI

Ahaji Amos, PLLC is a Houston-based intellectual property and civil litigation firm servicing clients throughout the U.S.

Find the best lawyer for your project

Browse Lawyers Now

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review
Real Estate lawyers by city

Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.

View Trustpilot Review

I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.

View Trustpilot Review

I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.

View Trustpilot Review

How It Works

Post Your Project

Get Free Bids to Compare

Hire Your Lawyer

Find lawyers and attorneys by city