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Question:
One of the primary purposes of the Real Estate Settlement Procedures Act (RESPA) is to ____
A
provide consumers with enough information to enable them to effectively shop for settlement services.
explanation
While standardizing costs may seem likely a reasonable goal, the Real Estate Settlement Procedures Act (RESPA) is primarily intended to insure that consumers are not being charged hidden fees and have the information they need to make an educated decision between competing lenders.
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