Section 8 of the Real Estate Settlement Procedures Act (RESPA) prohibits a lender from accepting anything of value from a settlement service provider in exchange for referrals. As preparation for the CASE STUDY assignment select the link below and read then answer case study question.
RESPA Violation Case Study:
In the Consent Order summary between Prospect Mortgage and the CFPB , identify at least one way brokers and agents illegally paid for their referrals. Also, share why – in terms of impact on the mortgage origination business or borrowers – you think this particular method of payment is illegal under RESPA?
https://nexport.fastclass.com/courseware/619cc836-a09e-4910-95db-b47fbbc8f5be/089a6de0-49cb-4729-a893-fca999670209/63716351729063/assets/pdfs/Module7_%20DiscussionCaseStudy.pdf
