Consumers can receive the RESPA documents either by mail or in person, but either way the documents are required to be mailed out or delivered within 3 business days.

No lender is allowed to pay any form of 'referral fee' in order to acquire your business. A referral fee can be any thing of value, even something as small as a stick of gum. If you or anyone you know has received something of value for referring someone to a specific lender, that lender is violating RESPA, and could face legal action in the future.

RESPA, or the Real Estate Settlement and Procedures Act, states that a mortgage company needs to provide a GFE, or a Good Faith Estimate, within 3 days of application to a borrower applying for a home mortgage loan. The GFE is a list of estimated fees that will be charged with your home mortgage loan transaction. If your lender, mortgage company, mortgage broker or Loan Officer do not provide the GFE to you within 3 days of applying for a home loan this is a direct violation of RESPA.

RESPA is the Real Estate Settlement Procedures Act. RESPA is about closing costs and settlement procedures. RESPA is a U. S. Department of Housing and Urban Development (HUD) consumer protection statute designed to help homebuyers be better shoppers in the home buying process. RESPA requires that consumers receive disclosures at various times in the transaction and outlaws kickbacks that increase the cost of settlement services. RESPA is enforced by HUD.