Michael Reaburn sells homeowners' insurance policies. His father is a developer. His father refers all home buyers in his subdivisions to Michael for insurance. Michael then pays his father a commission which he includes as a cost for the escrow company to collect from the buyers at closing
A)?There is no violation of RESPA.
B)?Because the fees involve insurance and not mortgage fees, RESPA does not apply.
C)?RESPA applies only to escrow agents and mortgage brokers and lenders.
D)?The commission and referral set-up is a violation of RESPA.
D
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Which of the following is a disadvantage of establishing a wholly owned subsidiary?
a) Firms will face difficulties in building a certain organizational culture in greenfield ventures. b) Firms will typically lose control over any technological competence. c) A firm engaging in this strategy will have little control over operations in the foreign country. d) Establishing a wholly owned subsidiary is generally the most costly method.
An asset management account that moves any unused balance in the brokerage account into a money market investment at the end of each business day is called a(n)
A) sweep account. B) accelerated management account. C) money market fund. D) secondary market.