The closing is critically important to all parties involved in the real estate transaction so much so that the federal government saw a need to develop and pass into law the Real Estate Settlement Protection Act (RESPA) in 1975. Nearly all residential real estate transactions are now governed by RESPA. Do you believe that RESPA protects the individuals in the manner the law was intended? Justify. In addition, in response to the 2008-2009 mortgage crises, the federal government issued more stringent rules with regard to the Good Faith Estimate of Closing and the HUD-1. Do you agree with the changes that went into effect on Jan1, 2010?