RESPA Has Three Specific Objectives

question 15

Multiple Choice

RESPA has three specific objectives. Which of the following is NOT one of those objectives?

• A) More effective advance disclosure of settlement costs
• B) More informative of the cost of credit
• C) Elimination of kickbacks and unearned fees
• D) A reduction in the amount of escrow placed in accounts for homeowners

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Definitions:

Asthma

A chronic respiratory condition characterized by episodes of airway constriction, leading to wheezing, shortness of breath, chest tightness, and coughing.

Catastrophic Thinking

A cognitive distortion involving irrational thoughts that something is far worse than it actually is.

Albert Ellis

A psychologist best known for developing rational emotive behavior therapy (REBT), which focuses on identifying and changing irrational beliefs.

Scholarship

Financial aid awarded to a student based on academic or other achievements to fund their education.