The Real Estate Settlement Procedures Act (RESPA) (PL 93-533) was first passed by the U.S. Congress in 1974 to protect consumers. The act ensures that consumers are provided with more helpful information about the cost of a mortgage settlement and protected from unnecessarily high settlement charges caused by certain abusive practices. RESPA is implemented by Regulation X (12 CFR 1024, formerly 24 CFR 3500).

RESPA — more than any other federal statute — profoundly affects how the mortgage industry
conducts its business. RESPA’s application to the evolving mortgage industry has raised more than
its fair share of controversial issues... — James H. Pannabecker

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