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RESPA “101” for Real Estate Brokers

The Real Estate Settlement Procedures Act (“RESPA”) is a series of federal consumer-protection statutes that impose rules upon all of the professions involved in an activity relating to a real estate settlement involving a federally related mortgage loan.  The State of Colorado has adopted laws and regulations governing real estate brokers that impose similar rules. … Continue Reading

Real Estate Brokers & Referral Fees under RESPA

Special Considerations for Commercial Real Estate Brokers and Referral Fees under RESPA and Colorado law. Paying for referrals is a common practice in various competitive industries where the struggle to attract customers determines which participants will flourish and which will flounder.  However, the business of real estate is subject to various restrictions that limit industry-participants’ … Continue Reading

RESPA Exception: Payment for Services Actually Rendered

Co-Author:  David A. Farus, Esq. This article explains the exception for Payment for Services Actually Rendered.   Another article on our site explains the Affiliated Business Arrangements (ABA’s) exception. Question: I own a real estate brokerage firm. Mortgage companies and others profit from the business I refer to them. Does RESPA prohibit me from receiving referral … Continue Reading

RESPA Exception: Affiliated Business Arrangements (ABA’s)

Co-Author: David A. Farus, Esq. This article explains the RESPA exception for Affiliated Business Arrangements (ABA’s). Another article on our site explains the exception for Payment for Services Actually Rendered. Question:     I own a real estate brokerage firm. Mortgage companies and others profit from the business I refer to them. Does RESPA prohibit me from … Continue Reading