What does RESPA stand for?

The correct answer is the Real Estate Settlement Procedures Act, commonly referred to as RESPA. This federal law was enacted to help protect consumers from abusive practices during the home buying process, specifically in relation to settlement services. RESPA requires lenders to provide borrowers with clear, standardized information about the costs associated with the settlement process and prohibits certain practices, such as kickbacks and referral fees that can inflate costs. By ensuring transparency and fairness in real estate transactions, RESPA aims to empower borrowers with better knowledge and understanding of their mortgage agreements and settlement conditions.

The other options, while they may sound plausible, refer to non-existent acts or do not accurately represent the focus of RESPA, which is specifically about settlement procedures rather than broader or unrelated real estate activities.