Question:
I operate the mortgage department for a bank. For years we have referenced an article on your website entitled <a href="http://www.bankersonline.com/compliance/gurus_cmp0507h.html">"RESPA Fee Checklist"</a> to determine if we can pay a referral fee on mortgages referred to us by other mortgage companies. We were recently advised by an FHA representative that we could not pay a referral fee to any mortgage company if that mortgage company is not licensed to originate FHA loans, regardless of the work that they may have performed. Are there any other updates to this rule that we need to know about to ensure compliance?