ONLINE RESPA TRAINING COURSE
Real Estate Settlement Procedures Act
Buying and selling real estate involves a network of industry professionals — real estate agents, loan officers, mortgage brokers, title agents, escrow agents and others. Consumers can find navigating the network and the overall buying and selling process to be complex and costly.
In an effort to protect consumers, the Real Estate Settlement Procedures Act (RESPA) was enacted. This federal law prohibits fees or kickbacks for the referral of settlement services (such as origination or funding of a loan, closing services and many other services). As such, RESPA helps prevent unnecessary increases in the cost of these services for consumers.
It is mandatory that real estate professionals understand and adhere to RESPA.
The Cintas, 25-minute Online RESPA Training Course defines in general terms what payments real estate agents (and others who market residential settlement services) may and may not give or receive under RESPA. Topics include:
- A comprehensive look at RESPA
- What activities are considered prohibited?
- Which payments are legally exempt?
- What other exemptions exist?
- Understanding and avoiding penalties