RESPA stands for Real Estate Settlement Procedures Act and is a consumer protection law intended to ensure that buyers are informed regarding the amount and type of charges they will pay at closing.   

The Real Estate Settlement Procedures Act (RESPA) insures that consumers are provided with more helpful information about the cost of the mortgage settlement and protected from unnecessarily high settlement charges caused by certain abusive practices.

RESPA applies to federally related residental loans and covers loans secured with a mortgage on a one-family to four-family residential property.