Skip to content
BOL Conferences
Thread Options
#486645 - 01/20/06 04:48 PM Fee Splitting
Sleepy - Mom of infant twins Offline
New Poster
Joined: Nov 2004
Posts: 4
Our holding company owns a bank that owns an insurance company. If the bank force places flood insurance through an unaffiliated insurance company, and the bank owned insurance company later receives a portion of the premium paid, is this a violation of RESPA's Section 8? Is this considered a kickback or fee splitting?

Return to Top
Lending Compliance
#486646 - 01/20/06 05:22 PM Re: Fee Splitting
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
No. Force placing insurance is not a settlement service.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top

Moderator:  Andy_Z