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#2256130 - 06/29/21 07:18 PM Section 8 violation?
MortComp Offline
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Joined: Nov 2020
Posts: 7
If a realtor on Zillow or other similar real estate within their comments lists that if the buyers use our loan officer they will receive a $1000 discount towards closing costs, would that be a Respa issue?

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#2256131 - 06/29/21 07:22 PM Re: Section 8 violation? MortComp
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 76,979
Galveston, TX
No - but you have to ask yourself and the loan officer a hard question - why?

Benefits that accrue solely to the borrowers are not a Section 8 issue - but people are not in the habit of giving away money for nothing..
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#2256135 - 06/29/21 07:41 PM Re: Section 8 violation? MortComp
Skittles Offline
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Skittles
Joined: Sep 2002
Posts: 13,935
TN
I agree with Randy. Why would this realtor offer this - and who is paying the $1,000? Is it the realtor or the bank?
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#2256138 - 06/29/21 08:39 PM Re: Section 8 violation? MortComp
Inspector Offline
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Joined: Apr 2016
Posts: 250
To pile on here, the comment in itself would not constitute a Section 8 violation but the comment sounds like a referral. So to Randy's point, you have a referral so do you have a thing of value? An agreement or understanding? If so, then you have a Section 8 violation.
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