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RESPA: Kickbacks and Affiliated Business Arrangements

Within the Real Estate Settlement Procedures Act, contains rules regarding the requirement for banks to provide certain credit applicants with a list of home ownership counseling organizations.
SKU: P0186EN
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 The Real Estate Settlement Procedures Act section 1024.14 & 1024.15, also known as “Section 8” prohibits certain payments and business arrangement. 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 its own employee for loan referrals. Section 1024.15 sets requirements on affiliated business arrangements. This course provides detail on the prohibition against kickbacks and unearned fees and affiliated business arrangements. This course is intended for compliance personnel, management, and board of directors.

  • 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

0.5 hours

Features:

Mobile, accessible, audio, video

Module(s):

40463EN

Products specifications
Course Language English
Length Range 30 Minutes or Less
Length (Hours) 0.50
Course Features Audio
Course Features Mobile
Course Features Accessible
Course Features Video
Module Number(s) 40463EN
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