We are thinking of beginning a new campaign to allow LO's to do some video marketing through social media. (NO Facebook Live) The borrowers will be asked to sign an agreement to be utilized for said marketing. This marketing could potentially include, realtors, title companies etc.

Scenario 1- does an affiliate marketing agreement need to be completed with a realtor, etc that would also be included in the marketing campaign? What potential impacts to RESPA would you be concerned with?

Scenario 2- if the borrower does not wished to be utilized in the marketing, obviously they wont sign the disclosure, would you be concerned with any additional documentation? ie, give them the chance to "opt out" of the marketing.

I have a lot of thoughts running through my head but am looking for some other opinions of those who have utilized similar social media campaigns. Thanks!

From a RESPA perspective, the advertisement is a thing of value so these other parties need to pay to be included. Determining a value will be a little tricky but whatever portion of the advertising is predominantly for the other party will need to be covered by them.

This is what I am struggling with, can a Facebook advertisement be considered a thing of value? Essentially, neither party is paying a fee for the advertisement.

This idea hasn't been presented by our marketing group yet, thankfully, but I expect it soon. My thoughts would be to weigh the risks... Is it really worth it? I've never been able to understand why people would want to be "friends" with their bank.

Congress could not have used a term that is more inclusive than "thing." If the drafters of Section 8 had intended to limit RESPA's ban to fees, payments, compensation, or money described in any other way, they would have used a narrower term.

Since anything can be considered a thing, the only remaining question is whether or not it has any value. Actually, since it's impossible to prove a negative, there's no way to argue "it's a thing, but it has no value." The very fact that you want to do it proves there is value.