Sections within the Real Estate Settlement Procedures Act establish prohibitions against kickbacks, unearned fees, and affiliated business arrangements. These rules are also known as “Section 8”. This course provides details on the rules.
The Real Estate Settlement Procedures Act section 1024.14 & 1024.15, also known as “Section 8” prohibits certain payments and business arrangements. Section 1024.14 prohibits the paying or receiving of referral fees for mortgage loans and allows lenders to receive compensation only for services actually performed. The law does allow banks to pay their own employee for loan referrals. Section 1024.15 sets requirements on affiliated business arrangements.
This RESPA: Kickbacks and Affiliated Business Arrangements online training course will provide detail on the prohibition against kickbacks and unearned fees and affiliated business arrangements. This course is intended for compliance personnel, management, and the board of directors.
Course Learning Objectives
By taking this online RESPA: Kickbacks and Affiliated Business Arrangements course, the user will learn:
- Understand when a banker may be paid a referral fee or others may be paid for services performed
- Understand what an affiliated business arrangement is and what is allowed
This online RESPA: Kickbacks and Affiliated Business Arrangements course is made up of the following sections:
- Kickbacks and Unearned Fees
- Affiliated Business Arrangements
This RESPA: Kickbacks and Affiliated Business Arrangements online training course was designed for compliance personnel, management, and the board of directors.
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