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A primary goal of the Real Estate Settlement Procedures Act (RESPA) is to ensure proper disclosure of costs related to real estate transactions. This federal law mandates that consumers receive clear and accurate information about the costs associated with their mortgage and the closing process. By requiring lenders and settlement agents to provide standard disclosures, RESPA aims to promote informed decision-making and transparency in the real estate market.

The act helps buyers and sellers understand the financial implications of their transactions by detailing fees related to the settlement process, such as loan origination fees, title insurance, and appraisal costs. This disclosure is intended to prevent hidden fees and reduce the likelihood of abusive practices, fostering a more equitable environment for all parties involved.

Thus, the focus on transparency and accuracy in cost disclosure aligns with RESPA’s intent to protect consumers and promote fair practices in the real estate industry, which is why this option accurately captures one of the law’s primary goals.