Which of the following is NOT a requirement of the Real Estate Settlement Procedures Act?

The reason that voluntary collection of race data is not a requirement of the Real Estate Settlement Procedures Act (RESPA) is that RESPA primarily focuses on providing transparency and fairness in the real estate settlement process, particularly concerning the closing of residential mortgage loans. The act mandates certain disclosures and procedures to protect consumers during real estate transactions, but it does not impose requirements related to the collection of demographic information such as race.

On the other hand, the requirements that involve the settlement statement for both the buyer and seller, the provision of the "Your Home Loan Toolkit" to the borrower, and the loan estimate of closing costs are established elements of RESPA. These components ensure that borrowers are provided with clear and comprehensive information about their loan terms, potential costs associated with their mortgage, and the overall settlement process, which are crucial for informed decision-making.