RESPA: closing-cost rules — no kickbacks (Section 8), no unearned fees
Before you read
Test yourself first: 5 questions
Question 1 of 5
The Consumer Financial Protection Bureau (CFPB) combined the disclosures formerly required separately under TILA and RESPA into which integrated forms?
Answer: B. The TRID rule (TILA-RESPA Integrated Disclosure) replaced the older Good Faith Estimate and HUD-1/Truth-in-Lending forms with the Loan Estimate and the Closing Disclosure.
Question 2 of 5
Under RESPA, within how many days of receiving a loan application must a lender provide the Loan Estimate to the borrower?
Answer: A. Under RESPA and the TRID rule, the lender must provide the Loan Estimate within 3 business days of receiving a completed loan application.
Question 3 of 5
RESPA primarily:
Answer: B. The Real Estate Settlement Procedures Act requires clear disclosure of closing/settlement costs and bans kickbacks/referral fees for settlement services.
Question 4 of 5
RESPA (Real Estate Settlement Procedures Act) primarily applies to which type of transaction?
Answer: B. RESPA applies to federally related mortgage loans secured by a lien on one-to-four-family residential property, covering most purchase and refinance home loans from institutional lenders.
Question 5 of 5
RESPA's prohibition against kickbacks and referral fees is found in which section, and what does it forbid?
Answer: A. Section 8 of RESPA prohibits giving or receiving any fee, kickback, or thing of value for referring settlement service business, to keep settlement costs honest.
Keep the streak going with more questions like these, each with a full rationale.
Must-know rules
- TILA (Reg Z): disclose the true cost of credit — APR; 'trigger terms' in ads require full disclosure
- RESPA: closing-cost rules — no kickbacks (Section 8), no unearned fees
- TRID Loan Estimate: within 3 BUSINESS days of application
- TRID Closing Disclosure: at least 3 BUSINESS days BEFORE consummation
- Applies to most consumer mortgage loans — not cash or commercial deals
TILA · RESPA · TRID Timeline: FAQs
Is TILA · RESPA · TRID Timeline on the real estate exam?
Yes. Financing & Lending is a scored domain on the real estate licensing exam, and this topic appears in the national portion.
Is this cheat sheet free?
Yes — every page on Cinna RE's resource library is free to read, print and share. The app adds practice questions, mock exams and a readiness score.
