The Real Estate Settlement Procedure Act ( RESPA) applies to:
A. contracts for deed
B. seller-financed transactions
C. commercial and residential mortgages
D. residential first mortgages
Answer: D. residential first mortgages
RESPA applies to mortgages secured by a dwelling with up to four units. It does not apply to commercial transactions or seller financing. (A contract for deed, which is the same thing as a land contract, can only be used in a seller-financed transaction.)
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