Ask Question
26 February, 09:01

A mortgage broker rents office space from a title company at a discount in exchange for referring customers for settlement services. which federal law does this arrangement violate? respa safe act tila it does not violate any federal law.

+4
Answers (1)
  1. 26 February, 09:19
    0
    Answer: RESPA

    The arrangement of the mortgage broker and the title company (exchange of discount with referrals) violate RESPA. This is classified as kickbacks under Section 8 and violation is subject to penalties a fine of $10,000 and imprisonment up to one year.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A mortgage broker rents office space from a title company at a discount in exchange for referring customers for settlement services. which ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers