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#1705636 - 06/01/12 03:11 PM Lenders and realtor joint advertising
Everest Offline
Gold Star
Joined: Jan 2012
Posts: 303
I had a lender tell me that they heard that a new regulation is going into effect soon that mortgage companies/financial institutions are not going to be allowed to advertise jointly with a realtor/builder any longer.
I cannot find anything regarding this. Right now all I have is this verbal information. Has anyone else heard this? Just trying to figure out if there is something out on this or not.
Thanks!

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#1705667 - 06/01/12 03:42 PM Re: Lenders and realtor joint advertising Everest
MyBrainHurts Offline
Platinum Poster
Joined: Feb 2010
Posts: 960
Illinois
I haven't heard anything new, but there are the RESPA section 8 restrictions. The cost must be equally shared.

From the RESPA FAQ:
18. Can a mortgage banker and a real estate broker advertise their services together, for example, on the same brochure or newspaper advertisement?

Nothing in RESPA prevents joint advertising. However, if one party is paying less than a pro-rata share for the brochure or advertisement, there could be a RESPA violation.
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