Answer:
The third party must earn the fee otherwise you have a Section 8 violation. Review II. RESPA Policy Statement 1999-1 C. here.
First published on BankersOnline.com 3/30/09
Third Party Originator Referral Fee
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Question:
If we process, underwrite and close loans in our name, but pay the third party originator a referral fee and disclose it on the Good Faith Estimate is this a violation of RESPA?
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