Section 8 of the Real Estate Settlement Procedures Act (RESPA) prohibits a lender from accepting anything of value from a settlement service provider in exchange for referrals

Section 8 of the Real Estate Settlement Procedures Act (RESPA) prohibits a lender from accepting anything of value from a settlement service provider in exchange for referrals. As preparation for the CASE STUDY assignment select the link below and read then answer case study question.

RESPA Violation Case Study:In the Consent Order summary between Prospect Mortgage and the CFPB , identify at least one way brokers and agents illegally paid for their referrals. Also, share why – in terms of impact on the mortgage origination business or borrowers - you think this particular method of payment is illegal under RESPA?