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7 June, 11:16

Anderson Mortgage Company has decided to outsource its loan processing activities to Total Processing, Inc. Pursuant to their agreement, Anderson pays Total $300 per file when the loan closes and nothing for files that do not close. Is this a violation of RESPA?

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  1. 7 June, 11:37
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    Answer: No, it is not a violation of RESPA

    Explanation:

    No, the scenario in this question is not a violation of the RESPA conduct because there is no penalization if an organization pays an individual for the services performed. The RESPA violations of bribery, referrals, and the fee splitting proscription are therefore subject to the severe penalties which further includes fines and imprisonment.
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Home » Business » Anderson Mortgage Company has decided to outsource its loan processing activities to Total Processing, Inc. Pursuant to their agreement, Anderson pays Total $300 per file when the loan closes and nothing for files that do not close.
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