All in RESPA

The rules surrounding RESPA Section 8 prohibitions against kickbacks and unearned fees have been around for decades.  These rules, however, seem to be easily forgotten and overlooked by lenders and Realtors alike. In fact, the regulators often tend to go through dry spells where they don’t issue any public enforcement actions relating to Section 8 violations, though it is doubtful that such violations don’t continue to occur.  The reality is that the RESPA Section 8 prohibitions still exist and the we have even seen some recent…

RESPA Section 8 & Hosting Lending Events

In this Compliance Clip (video), Adam discusses the compliance challenges when a lender wants to host a lending event and invite Realtors, title companies, or other settlement service providers. Networking, of course, is essential to the lending function of any creditor, but RESPA Section 8 provides some strict prohibitions that every lender should be aware of as significant fines can be assessed when the rules are ignored or not followed.