Partner RESPA Disclosure & Information
Explanation of the legality of our services:
What are kickbacks and unearned fees under Section 8 of RESPA? Specifically, the section states: “No person shall give and no person shall accept any fee, kickback or thing of value pursuant to any agreement or understanding, oral or otherwise, that business incident to or a part of a real estate settlement service involving a federally related mortgage loan shall be referred to any person.” That includes any portion, split, or percentage of any charge covered by the definition.
What, then, is a thing of value? Section 3 of RESPA describes this broad term. It includes, without limitation, monies, things, discounts, salaries, commissions, fees, duplicate payments of a charge, stock, dividends, distributions of partnership profits, franchise royalties, credits representing monies that may be paid at a future date, the opportunity to participate in a money-making program, retained or increased earnings, increased equity in a parent or subsidiary entity, special bank deposits or accounts, special or unusual banking terms, services of all types at special or free rates, sales or rentals at special prices or rates, lease or rental payments based in whole or in part on the amount of business referred, trips and payment of another person’s expenses, or reduction in credit against an existing obligation.
Not only are the majority of our services co-branded, we remain compliant by always providing educational materials, and in-services to the consumers that are beneficial to them during their home buying process. This allows us to maintain compliance under RESPA laws during our co-branded marketing campaigns with our partners and allows us to absorb costs associated with them. We take compliance very seriously, and constantly strive to be as informed as possible in our industries ever changing policies and regulations.