Which entity is responsible for regulating RESPA compliance?

The Consumer Financial Protection Bureau (CFPB) is the entity responsible for regulating compliance with the Real Estate Settlement Procedures Act (RESPA). RESPA is a federal law aimed at providing clarity and protection for consumers during the home buying process, particularly concerning disclosures related to settlement costs and procedures. The CFPB oversees RESPA regulations, ensuring compliance among lenders, settlement agents, and others involved in the real estate transaction process.

This regulation includes enforcing rules regarding the disclosure of costs associated with mortgage loans and ensuring that consumers receive the necessary information to make informed decisions. The role of the CFPB also extends to providing consumer education on settlement services and addressing complaints related to RESPA violations, which is crucial for consumer protection in real estate transactions.

In contrast, the other options do not have the specific responsibility for overseeing RESPA compliance. The Federal Housing Authority focuses on insuring loans, local government entities deal with zoning and land use regulations, and the National Association of Realtors deals more with the interests of real estate professionals rather than compliance with federal laws like RESPA. Thus, the CFPB is clearly the key regulatory authority in this context.