Skip to content
BOL Conferences
Thread Options
#1651593 - 01/17/12 05:10 PM Title Co. Discount
Carolina Blue Offline
Platinum Poster
Carolina Blue
Joined: Jul 2005
Posts: 960
Lost in a regulatory fog
If a title company offers to waive their closing fee for all of the bank's employee loans is that a direct violation of Section 8? It's easy to assume it's done with the intention of receiving more referrals from the bank, but there's direct evidence. Any thoughts on allowing this?

Return to Top
RESPA
#1651600 - 01/17/12 05:14 PM Re: Title Co. Discount Carolina Blue
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
Quote:
Any thoughts on allowing this?


Get fitted for your jump suit, whatever color or pattern it may be.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top
#1651611 - 01/17/12 05:23 PM Re: Title Co. Discount Dan Persfull
Carolina Blue Offline
Platinum Poster
Carolina Blue
Joined: Jul 2005
Posts: 960
Lost in a regulatory fog
Whoops. I meant there's NO direct evidence of this assumption, but I have a feeling that correction will not changed your answer. Thanks.

Return to Top
#1651669 - 01/17/12 05:59 PM Re: Title Co. Discount Carolina Blue
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
There does not have to be direct evidence, all it has to be is implied.

What is the underlying reasoning for the title company to waive these fees to bank employees only? It's definitely not out of the "goodness of their heart", but with the anticipation of future referrals.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top

Moderator:  QCL