source:
  type: statute
  id: respa-12usc-2601
  authority: 12 U.S.C. §2601 — Congressional findings and purpose
  description: 12 U.S.C. §2601 — Congressional findings and purpose.
  coverage_tier: context
obligations:
- id: respa-12usc-2601-full
  canonical_id: respa-12usc-2601-full
  section: 12 U.S.C. §2601 — Congressional findings and purpose
  type: reference
  tags:
  - regulator-direct
  - federal-statute
  - corpus-expansion
  - tier-context
  primary_source:
    tier: 1
    authority: 12 U.S.C. §2601 — Congressional findings and purpose
    source_class: usc-statute
    source_url: https://www.law.cornell.edu/uscode/text/12/2601
    snapshot_id: ddeb9271704e1762
    fetched_at: '2026-05-24T16:52:37Z'
    content_hash: sha256:0bb8999593c5761e8d2b424593c9b6b4869384a6dd4d1563d0775c150a971141
    paragraph_quote: (a) The Congress finds that significant reforms in the real estate
      settlement process are needed to insure that consumers throughout the Nation
      are provided with greater and more timely information on the nature and costs
      of the settlement process and are protected from unnecessarily high settlement
      charges caused by certain abusive practices that have developed in some areas
      of the country. The Congress also finds that it has been over two years since
      the Secretary of Housing and Urban Development and the Administrator of Veterans’
      Affairs submitted their joint report to the Congress on “Mortgage Settlement
      Costs” and that the time has come for the recommendations for Federal legislative
      action made in that report to be implemented. (b) It is the purpose of this
      chapter to effect certain changes in the settlement process for residential
      real estate that will result— (1) in more effective advance disclosure to home
      buyers and sellers of settlement costs; (2) in the elimination of kickbacks
      or referral fees that tend to increase unnecessarily the costs of certain settlement
      services ; (3) in a reduction in the amounts home buyers are required to place
      in escrow accounts established to insure the payment of real estate taxes and
      insurance; and (4) in significant reform and modernization of local recordkeeping
      of land title information. ( Pub. L. 93–533, § 2 , Dec. 22, 1974 , 88 Stat.
      1724 .)
  judgment: false
