Skip to content
BOL Conferences
Thread Options
#2165098 - 02/17/18 12:57 PM Co-hosting Education Event
terpsfan Offline
Diamond Poster
Joined: Feb 2007
Posts: 2,058
A realtor has requested that one of our lenders co-host a seminar for first time homebuyers. Costs for refreshments and marketing materials will be split but the event would be in the realtor’s office building. Would this be an issue? The space is not normally rented so there is no cost associated with the space.

Return to Top
RESPA
#2165099 - 02/17/18 02:42 PM Re: Co-hosting Education Event terpsfan
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
Chalk it up to:

1024.14(g)(vi) Normal promotional and educational activities that are not conditioned on the referral of business and that do not involve the defraying of expenses that otherwise would be incurred by persons in a position to refer settlement services or business incident thereto;
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2165103 - 02/19/18 01:43 PM Re: Co-hosting Education Event terpsfan
terpsfan Offline
Diamond Poster
Joined: Feb 2007
Posts: 2,058
So as long as it is for education activities we do not need to worry about 50/50 split

Return to Top
#2165105 - 02/19/18 02:26 PM Re: Co-hosting Education Event terpsfan
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
If you are doing the education with a realtor or another settlement service provider, yes. As otherwise then you would be " defraying of expenses that otherwise would be incurred by persons in a position to refer settlement services or business incident thereto". THe realtor could not do it for free by themselves.

But you already said you were splitting the costs.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top

Moderator:  QCL