The Real Estate Settlement Procedures Act (“RESPA”) covers federally related mortgage loans. A “federally related mortgage loan” is a loan (other than temporary financing such as a construction loan) which:
•is secured by a first or subordinate lien on residential real property including refinancing of any secured loan on residential real property upon which there is or with the loan proceeds will be built a structure (including individual units of condominiums and cooperatives) designed principally for the occupancy of from one to four families or a manufactured home; and
•is made in whole or in part by any lender that is either regulated by or whose deposits or accounts of which are insured by any agency of the Federal Government;
o is made in whole or in part, or insured, guaranteed, supplemented or assisted in any way by the Secretary of Housing and Urban Development or any other officer or agency of the Federal Government or under or in connection with a housing or urban development program administered by the Secretary or a housing or related program administered by any other officer or agency of the Federal Government (i.e., a V.A. guaranteed or F.H.A. insured loan);
o is intended to be sold by the originating lender to the Federal National Mortgage Association, the Government National Mortgage Association, the Federal Home Loan Mortgage Corporation, or a financial institution from which it is to be purchased by the Federal Home Loan Mortgage Corporation (i.e., Freddie Mac, Fannie Mae or Ginnie Mae) by its successors;
o is made in whole or in part by any “creditor” as defined in section 103(g) of the Consumer Credit Protection Act (15 U.S.C. 1602(g)) who makes or invests in residential real estate loans aggregating more than $1,000,000 per year (other than any agency or instrumentality of any State);
o is originated either by a dealer or, if the obligation is to be assigned to any maker of mortgage loans by a mortgage broker
o is a “reverse mortgage.” [24 CFR 3500.2]