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
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
TRID Disclosures 11/28/2015: The conventional wisdom is that the new TRID regulations will make buyer loan approvals more precarious. Additions to contract language which call for an automatic one-time extension for TRID motivated problems are a partial solution. Learn about the options and how to effectively use them.
Section 8(a) of RESPA Webcast 10/27/2014: Section 8(a) of RESPA in Two Minutes or Less. Develop an instinct for what kind of joint ventures, MSAs and other kinds of affiliated business arrangements (AfBAs) might withstand scrutiny by the CFPB.
Co-Author: Amanda S.P. Howe More on Affiliated Business Arrangements Some service businesses try to operate as simply as they can and out-source all services but their core competencies. Other businesses seek to provide one-stop shopping for customers. One stop shopping can enhance the quality of the services to the customer and help the business amortize its … Continue Reading
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
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