Under the Provisions of RESPA Payments Outside Closing Are Prohibited

question 29

True/False

Under the provisions of RESPA payments outside closing are prohibited.

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Definitions:

Freight Costs

The expenses associated with transporting goods from one location to another.

FOB Destination

A shipping term indicating that the seller bears freight charges and owns the goods until they are delivered to the buyer’s location.

Freight Charges

Costs associated with transporting goods from one place to another.

FOB Destination

A shipping term indicating that the seller pays for transportation and is responsible for the goods until they are received by the buyer.