RESPA Had Three Specific Objectives

question 14

Multiple Choice

RESPA had three specific objectives.Which of the following was 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:

Labor Union

An organized association of workers formed to protect and advance their members' interests, typically through bargaining for better working conditions and compensation.

Strategic Business Partners

Associations or collaborations between companies that combine resources, knowledge, and markets to pursue mutual business goals.

Employee Ownership Unionism

An approach within unionism that advocates for workers owning shares or having an equity stake in the company they work for, fostering a sense of ownership and investment in the workplace.

Corporate Boards

Groups of individuals elected by shareholders to oversee the strategic direction, policy-making, and overall governance of a corporation.