Real Estate Settlement Procedures Act (RESPA) Financial Glossary

What is it? A Federal law that, among other things, requires lenders to provide home mortgage borrowers with estimated loan closing costs and other disclosures.

Finance Term Definition Added By: Isabelle

Send To Friends!

If you'd like to send the Real Estate Settlement Procedures Act (RESPA) definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Real Estate Settlement Procedures Act (RESPA). If you need any more information on this term, please don't hesitate to contact us.

Other Similar Finance Terms:

Financial Term Balanced Fund is A fund that seeks both growth and income by investing in a combination of stocks and bonds. These portfolios may offer less growth potential, but they also tend to be less volatile than portfolios that invest only in stocks (see Volatility).

Financial Term Advance Payments is Payments made by the lessee at the inception of a leasing transaction.

Financial Term positive response verification is A form of auditing account balances in which the account debtor is requested to respond to either confirm or dispute the balance. One of two forms of direct verification.

Financial Term Earmarked reserves is Money set aside for a specific purpose.

Financial Term DPS is Payment made to shareholders out of the profits of a company. There are 5 types of dividend interim, final, 1st quarter, 3rd quarter and special. Ex Date is the date after which buying the share after does not entitle the buyer to receive the most recently declared dividend. Payment Date is the date when the dividend is payable to shareholders on the register at the Record Date. Record Date is the date on which a shareholder must officially own shares in order to be entitled to the dividend. Dividends are expressed in pence.