Alexandram5775 Alexandram5775

04-08-2018
Business

contestada

A mortgage broker rents office space from a title company at a discount in exchange for referring customers for settlement services. which federal law does this arrangement violate? respa safe act tila it does not violate any federal law.

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joccalub joccalub

16-08-2018

Answer: RESPA

The arrangement of the mortgage broker and the title company (exchange of discount with referrals) violate RESPA. This is classified as kickbacks under Section 8 and violation is subject to penalties a fine of $10,000 and imprisonment up to one year.

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