Sentences with phrase «estate settlement service involving»

Affiliated Business Arrangment means an arrangement in which (A) a person who is in a position to refer business incident to or a part of a real estate settlement service involving a federally related mortgage loan, or an associate of such person, has either an affiliate relationship with or a direct or beneficial ownership interest of more than 1 percent in a provider of settlement services; and (B) either of such persons directly or indirectly refers such business to that provider or affirmatively influences the selection of that provider; and (8) the term «associate» means one who has one or more of the following relationships with a person in a position to refer settlement business: (A) a spouse, parent, or child of such person; (B) a corporation or business entity that controls, is controlled by, or is under common control with such person; (C) an employer, officer, director, partner, franchisor, or franchisee of such person; or (D) anyone who has an agreement, arrangement, or understanding, with such person, the purpose or substantial effect of which is to enable the person in a position to refer settlement business to benefit financially from the referrals of such business.

The court observed that «section 8 (a) of RESPA prohibits the payment or receipt of fees, kickbacks, or things of value in exchange for referrals of «business incident to or part of a real estate settlement service involving a federally related mortgage loan.»»

Not exact matches

For NAR, the issue is important because many real estate professionals enter into marketing service agreements with lenders and other settlement service providers... agreements that are structured similarly to the one involved in the case.

In a case involving mortgage lending but which has direct application to real estate brokerage, the Supreme Court of the United States has determined that a violation of § 2607 (b) of the Real Estate Settlement Procedures Act («RESPA») only occurs when a split of a settlement - service fee paid by a consumer to a real estate settlement - service provider is split with a third estate brokerage, the Supreme Court of the United States has determined that a violation of § 2607 (b) of the Real Estate Settlement Procedures Act («RESPA») only occurs when a split of a settlement - service fee paid by a consumer to a real estate settlement - service provider is split with a third Estate Settlement Procedures Act («RESPA») only occurs when a split of a settlement - service fee paid by a consumer to a real estate settlement - service provider is split with a thSettlement Procedures Act («RESPA») only occurs when a split of a settlement - service fee paid by a consumer to a real estate settlement - service provider is split with a thsettlement - service fee paid by a consumer to a real estate settlement - service provider is split with a third estate settlement - service provider is split with a thsettlement - service provider is split with a third party.

RESPA § 2607 (b) states that «[n] o person shall give and no person shall receive any portion, split, or percentage of any charge made or received for the rendering of a real estate settlement service [involving] a federally related mortgage loan».

Remember, Section 8 of the Real Estate Settlement Procedures Act (RESPA) «prohibits anyone from giving or accepting a fee, kickback, or anything of value in exchange for referrals of settlement service business involving a federally related mortgage loSettlement Procedures Act (RESPA) «prohibits anyone from giving or accepting a fee, kickback, or anything of value in exchange for referrals of settlement service business involving a federally related mortgage losettlement service business involving a federally related mortgage loan.»