The RESPA rules and regulations are a complex section of law that are very hard to understand. The difficulties of these requirements makes it very hard for those who need to be in compliance of the laws to always have to worry if they are following the rules or violating them.
RESPA has many different sections from anti-kickbacking to disclosure requirements. So they govern how realtors and brokers deal with one another. They also address how lenders, brokers, and real estate brokers disclosure loans, mortgages, forms, escrows, closing cost, borrowing fees and the list goes on.
The best ways to understand how to follow these rules and to be in full RESPA compliance is to talk to an attorney and let him or her explains all the areas so that you can put together a guide for you and all your employees to follow.
This will help ensure that you don’t face RESPA complaints and penalties being filed and levied against you and your company.
