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 Search for: California Lawyer Warns Mortgage Lenders of Referr.
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MRLEND.COM

121 Posts
Posted - 04/16/2008 :  08:41:52 AM
DISCLAIMER: This topic contains co-broker related content. Please note that the term co-brokering is often used in inquires that involve illegal fee splitting or kick backs. This site does not condone these activities. Details related to Respa Section 8 violations can be found here. If you feel the content of this topic may be in violation of any law, please report it to the moderator by clicking the red notification icon above. Thank You.
This is an FYI to all the posts that talk about fee splitting and co-brokering loans - mainly pertains to residential mortgages.

"But not if that collaboration get too cozy and involves a referral fee, whether disclosed or not to the borrower. In that scenario, not only does the home buyer pay, but it’s even more expensive for the lender and the real estate broker. That’s because referral fees and splitting of fees in most regulated mortgage transactions are illegal under federal law and subject to criminal and civil penalties."

http://www.prweb.com/releases/2006/2/prweb344114.htm
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