24 CFR Part 3500
E486583
24 CFR Part 3500 is a federal regulation that implemented the Real Estate Settlement Procedures Act (RESPA), governing disclosures and practices in residential real estate settlement and mortgage transactions.
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
United States Code of Federal Regulations part
ⓘ
federal regulation ⓘ implementing regulation ⓘ |
| abbreviation | Regulation X NERFINISHED ⓘ |
| appliesTo |
federally related mortgage loans
ⓘ
most residential first-lien mortgage loans ⓘ |
| basedOnStatute | 12 U.S.C. 2601 et seq. ⓘ |
| citationForm | 24 C.F.R. Part 3500 ⓘ |
| codifiedIn | Title 24 of the Code of Federal Regulations NERFINISHED ⓘ |
| contains |
Subpart A—General Provisions
ⓘ
Subpart B—Mortgage Settlement and Escrow Accounts ⓘ Subpart C—Mortgage Servicing ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| exempts |
business-purpose loans
ⓘ
temporary financing such as construction loans ⓘ |
| implements |
RESPA
NERFINISHED
ⓘ
Real Estate Settlement Procedures Act NERFINISHED ⓘ |
| jurisdiction |
United States of America
ⓘ
surface form:
United States
|
| language | English ⓘ |
| legalArea |
consumer financial protection
ⓘ
mortgage regulation ⓘ real estate law ⓘ |
| partOf | Code of Federal Regulations NERFINISHED ⓘ |
| prohibits |
kickbacks in connection with settlement services
ⓘ
unearned fees in connection with settlement services ⓘ |
| promulgatedBy | U.S. Department of Housing and Urban Development NERFINISHED ⓘ |
| purpose |
to protect consumers from unnecessarily high settlement charges caused by abusive practices
ⓘ
to provide consumers with greater and more timely information on the nature and costs of the settlement process ⓘ |
| regulates |
mortgage brokers
ⓘ
mortgage lenders ⓘ real estate settlement agents ⓘ settlement service providers ⓘ title insurance companies ⓘ |
| relatedTo |
TILA-RESPA Integrated Disclosure rule
NERFINISHED
ⓘ
Truth in Lending Act NERFINISHED ⓘ |
| requires |
advance disclosure of affiliated business arrangements
ⓘ
disclosure of settlement costs to borrowers ⓘ limits on escrow account balances ⓘ use of standardized settlement disclosure forms ⓘ |
| subjectMatter |
HUD-1 settlement statement
ⓘ
consumer disclosures in mortgage settlements ⓘ escrow account requirements ⓘ good faith estimates of settlement costs ⓘ kickbacks and unearned fees in settlement services ⓘ real estate settlement procedures ⓘ residential mortgage transactions ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.