Our mortgage division (sells loans in the secondary market) is wanting to enter into a joint marketing agreement with a realtor. The realtor uses Zillow. We would pay a portion (probably 50%) of the realtors fee with Zillow. I know that we need a co-marketing agreement with the realtor. Is there anything else I should be concerned about?
Also, does anyone have a sample co-marketing agreement they would be willing to share?

Do you mind explaining what a "co-marketing" agreement is. I have never seen that term used before and it surely is not defined in any regulation. What are you specifically marketing with a realtor?? Sounds sort of like a scheme to justify illegal referral payments.

Interesting finding. This should give some people pause when they are talking about establishing a marketing contract with other service providers:

"Entering a contract is a "thing of value" within the meaning of Section 8, even if the fees paid under that contract are fair market value for the goods or services provided."

This is good example that you can use to show management. I need to reiterate that I cannot think of a legitimate purpose for a bank to enter into a marketing agreement with a realtor.

http://files.consumerfinance.gov/f/201409_cfpb_consent-order_lighthouse-title.pdf

A Marketing Services Agreement instead of a co-marketing agreement. When asked of my regulator, they replied
"It is going to depend on how the agreement is set up. RESPA prohibits the payment and receipt of a fee or thing of value in return for the referral of settlement service business for a federally related mortgage loan. The advertising costs could be considered a thing of value if the bank does not pay its fair share of the advertising. Also, there can be no other benefits for the referral of business as a result of the co-marketing agreement."
From this, I think that as long as we establish the fact that we are paying a fair share of the advertising cost with Zillow that we would be OK.

An attorney told me the CFPB is frowning on Marketing Service Agreements and he has been advising his clients to steer clear of them.

Your regulator is not who you have to worry about, it is the CFPB.

They plainly stated in this enforcement action that: "Entering a contract is a "thing of value" within the meaning of Section 8, even if the fees paid under that contract are fair market value for the goods or services provided."

I think that alone notifies banks and other service providers the status of these Marketing Service Agreements.

In reality, there is only one reason to enter into such agreements, that is to generate referrals. That alone is a violation of Section 8.

But hey - you are free to do as you wish with any sort of justification you can muster.