Which agency administers the Real Estate Settlement Procedures Act (RESPA)?

The agency that administers the Real Estate Settlement Procedures Act (RESPA) is the Department of Housing and Urban Development (HUD). This federal law was enacted to provide transparency in the real estate settlement process, ensuring that consumers receive information about the costs associated with the closing of their mortgage loans. HUD is responsible for enforcing RESPA regulations, which include rules about disclosures, prohibited practices such as kickbacks, and guidelines for the timely provision of settlement cost estimates to consumers.

While other agencies may have related functions or concerns, such as the Consumer Financial Protection Bureau, which now has some oversight duties regarding mortgage rules and consumer protections, it was HUD that originally developed and enforced RESPA when it was enacted. This establishes the Department of Housing and Urban Development as the correct authority associated with RESPA’s administration.