Real Estate Settlement Procedures Act Reported by the joint conference committee on Dec. 9, 1974; concurred to by the Senate on Dec. 9, 1974 (consentaneous permission) and by the Legislature on Dec. 11, 1974 (unanimous consent). Signed into law by President Gerald Ford on Dec. 22, 1974. The Real Estate Settlement Procedures Act (RESPA) was a law gone by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. § § 2601-2617. The main objective was to safeguard house owners by assisting them in progressing educated while purchasing property services, and getting rid of kickbacks and recommendation fees which include unnecessary expenses to settlement services. RESPA requires lending institutions and others associated with mortgage financing to provide customers with important and timely disclosures relating to the nature and expenses of a realty settlement process. RESPA was also developed to forbid potentially abusive practices such as kickbacks and recommendation costs, the practice of dual tracking, and enforces limitations on using escrow accounts. RESPA was enacted in 1974 and was originally administered by the Department of Housing and Urban Development (HUD). In 2011, the Consumer Financial Protection Bureau (CFPB), developed under the arrangements of the Dodd-Frank Wall Street Reform and Consumer Protection Act, assumed the enforcement and rulemaking authority over RESPA. On December 31, 2013, the CFPB published last guidelines carrying out provisions of the Dodd-Frank Act, which direct the CFPB to release a single, integrated disclosure for mortgage transactions, that included mortgage disclosure requirements under the Truth in Lending Act (TILA) and sections 4 and 5 of RESPA. As a result, Regulation Z now houses the integrated kinds, timing, and associated disclosure requirements for the majority of closed-end consumer mortgage loans.