Ok, it’s official – HUD has issued an interpretive ruling stating that the fee paid to real estate agents who refer warranty business is a RESPA violation. Here is the actual respa ruling.
So, will the warranty companies cease paying these or rely on the agents to not accept them? For a RESPA violation – both the payor and payee are liable. I’d suggest being on the safe side and that you not accept any referral fees from warranty companies – beginning immediately.
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it was very interesting to read.
I want to quote your post in my blog. It can?
And you et an account on Twitter?
Sure, feel free to repost. And give me a follow @marcdiaz and facebook.com/CloseTrak and facebook.com/MarcDiaz