RESPA requires all of the following EXCEPT that?

The correct answer highlights that RESPA, which stands for the Real Estate Settlement Procedures Act, does not require lenders to offer buyers a loan at a specific rate, such as 1/4% below the market rate. RESPA is designed to promote transparency and protect consumers in the home buying process, particularly related to the disclosure of settlement costs and the handling of escrow accounts.

Key requirements under RESPA include the provision of a HUD information booklet to buyers and the lender's obligation to provide a good-faith estimate of closing costs. Additionally, the law mandates that buyers receive a detailed itemization of settlement costs at least three days prior to closing, allowing them sufficient time to review the costs associated with their transaction.

Therefore, while RESPA emphasizes informative practices regarding costs and procedures in real estate transactions, it does not dictate the terms or rates at which a loan must be offered, making the offer of a loan below market rate outside the scope of its requirements.