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#31072 - 09/04/02 10:50 PM Weblinking and RESPA AfBA Disclosure
SJB Offline
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SJB
Joined: Jun 2002
Posts: 1,210
California
I read through the thread from December '01 about weblinking and RESPA and have a followup question.

A real estate broker that is affiliated with a mortgage brokerage company we control wants to install a link on its real estate web site to the mortgage broker site. To me this sure looks like a referral so the AfBA disclosure is required. RESPA, however, at section 3500.15 states, "The disclosures must be provided on a separate piece of paper no later than the time of each referral . . ."

RESPA's reference to a separate piece of paper seems to preclude being able to give the AfBA disclosure electronically "at the time of the referral."

Anyone have any experience with or thoughts about this?

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#31073 - 09/05/02 03:00 PM Re: Weblinking and RESPA AfBA Disclosure
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,087
Toano, VA
Are you comfortable that this type of referral passes the all-important Section 8 test?
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#31074 - 09/05/02 03:09 PM Re: Weblinking and RESPA AfBA Disclosure
SJB Offline
Diamond Poster
SJB
Joined: Jun 2002
Posts: 1,210
California
Richard - I have spent days going through the Section 8 tripwires and am comfortable up to this point that it passes. I just want to resolve whether an electronic delivery of the AfBA disclosure will work.
_________________________
My opinions are not legal advice and are worth what you paid for them.

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#31075 - 09/05/02 03:40 PM Re: Weblinking and RESPA AfBA Disclosure
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,087
Toano, VA
ESIGN allows you and the customer to agree to use e-delivery of all RESPA disclosures that must be "in writing." Just follow ESIGN's disclosure/opt-in scheme, check the content of the AfBA disclosure you are delivering, and you should be fine.
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