Brokerage Reminder: Kickbacks – the unlawful referral fee
A bad habit to kick Although kickbacks — the practice of accepting referral fees from third-party...
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Tag: RESPA
Referral Fees Between Brokerages
Compensation for a referral by or between brokers permitted under the Real Estate Settlement Procedures Act (RESPA)
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Kickbacks as a RESPA Violation
Real Estate Settlement Procedures Act (RESPA) penalties for improper kickbacks
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Fee Sharing by a Broker Under RESPA
Acceptance of referral fess under the Real Estate Settlement Procedures Act (RESPA)
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Mortgage Concepts: Is my loan subject to RESPA?
Mortgage Concepts: Is my loan subject to RESPA? (5:13) This video will help reinforce the...
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Survey says: Homebuyers pleased with TRID disclosures
91% of homebuyers are satisfied with the new closing disclosures — although some lenders still struggle with incorporating them into their practice.
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POLL: Have the TRID mortgage rules delayed your closings?
Have the new TILA-RESPA integrated disclosure (TRID) mortgage rules for purchase-assist financing...
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Kickbacks: the end of an opulent era
This article reports recent case law involving settlement service providers accused of violating RESPA laws that prohibit the unlawful practice of paying kickbacks to real estate brokers for client referrals.
Read MoreHigher FHA-insured loan costs push homebuyers to prowl the market
Annual default premiums (MIPs) on 30-year Federal Housing Administration (FHA)-insured loans for homebuyers with less than 5% down payment rose to 1.1 or 1.15% of the home value from 0.85 or 0.9%, effective April 18, 2011. For a...
Read MoreThe Good Faith Estimate needs further revision
The more accurate Good Faith Estimate (GFE) released in January 2010 under the Real Estate Settlement and Procedures Act (RESPA) is still not accurate enough, according to the Center for Responsible Lending. Under RESPA...
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January 2011 Forms
Double dipping: a second fee on a sale paid by the lender or loan broker.
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How to make money as an endorsed, registered, law-abiding RESPA mortgage loan broker
This article reviews the changes made to mortgage loan broker (MLB) compensation by the Dodd-Frank Wall Street Reform and Borrower Protection Act.
Read MoreSeptember 2010 RCDs
A digest of recent court cases affecting real estate.
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Endorsement requirements for RESPA mortgage brokers
This article examines the ongoing changes in reporting and endorsement requirements imposed on residential mortgage loan brokers and their agents under the recently passed Senate Bill 36.
Read MoreWhen it comes to fees: charge only one and disclose it to your client
Additional fees charged by real estate agents separate from their basic contingency fee were the subject of a recent letter to industry lawyers from the federal Department of Housing and Urban Development (HUD). The HUD letter...
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Get your buyer the best financial advantage – Submit multiple loan applications and compare
Read MoreNew steps regarding new licensing requirements for mortgage brokers
Effective January 1, 2010, any Mortgage Loan Broker (MLB) who makes, arranges or services residential or commercial mortgage loan secured by real estate in California must report to the Department of Real Estate (DRE) prior to...
Read MoreHUD’s new GFE
An updated version of the Real Estate Settlement Procedures Act (RESPA) Good Faith Estimate (GFE) and Settlement Statement (HUD-1) was released by the Department of Housing and Urban Development (HUD) for use in 2010. RESPA...
Read MoreNationwide Mortgage Licensing System Consumer Access to be available January 25, 2010
The Nationwide Mortgage Licensing System (NMLS) Consumer Access website will launch on January 25, 2010, giving borrowers access to their mortgage originators’ licensing and employment records. The fully-searchable list will be...
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