An anti-steering disclosure is a statement provided by a mortgage lender to a borrower that explains their rights to shop for and choose a settlement service provider, such as a title company or escrow agent, when obtaining a mortgage loan. The disclosure is required by the Consumer Financial Protection Bureau (CFPB) under the Real Estate Settlement Procedures Act (RESPA).The main purpose of the anti-steering disclosure is to help borrowers understand that they have the right to choose their own settlement service provider and that they should shop around for the best deal. The disclosure should explain that the borrower is not required to use any particular provider recommended by the lender, and that the borrower may save money by choosing their own provider.In terms of legal considerations, mortgage lenders must comply with RESPA and other relevant laws when providing an anti-steering disclosure to borrowers. The disclosure must be clear and conspicuous, and lenders must provide it to borrowers in a timely manner. Failure to comply with these requirements can result in legal penalties and regulatory enforcement actions.Additionally, lenders must ensure that they do not engage in any practices that would steer borrowers towards a particular settlement service provider, such as offering incentives or bonuses for using a specific provider. Doing so can violate RESPA's anti-kickback provisions, which prohibit the exchange of anything of value in exchange for the referral of settlement service business. Violations of these provisions can result in civil and criminal penalties, as well as reputational damage to the lender.