The Real Estate Settlement Procedures Act (RESPA)

Everything that the NMLS test candidate needs to know about the number one regulation overseeing the real estate industry. Yup! You got it! Anyone who works in a professional capacity within the real estate industry is subject to RESPA’s governance.

ONE POINT TO NOTE THAT’S NOT COVERED IN THE VIDEO:

An Associate Relationship exists when the referring party has a relative working at the company to which the consumer is being referred. Similar to a referral between affiliated companies, an associate relationship warrants the issuance of an ABAD by the individual referring the customer.