What are "settlement services" as defined by RESPA?

"Settlement services," as defined by the Real Estate Settlement Procedures Act (RESPA), specifically refer to the services associated with the closing of a real estate transaction. This encompasses a variety of activities that are necessary to finalize the purchase of property, such as title searches, loan processing, and recording fees. The purpose of RESPA is to ensure that consumers are informed about the costs involved in these services, promoting transparency in real estate transactions.

While property maintenance, services provided by real estate agents, and loan origination are important aspects of the real estate process, they do not fall under the definition of "settlement services" as intended by RESPA. Settlement services are strictly tied to the closing phase where ownership is transferred and financial transactions are settled, making option B the accurate choice.