Thread Starter: RolTyde
Title: Re: Lender/Realtor Combo =Charitable Donation
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First off, thanks to all of you! I'm at mortgage loan officer that frequents BOL on a daily basis. It has been a huge help to me making sure we are staying compliant.
I have a concern involving another local mortgage lender and a local real estate office. The local newspaper ran a photo and a short blurb about a charitable donation made by the mortgage lender. The blurb explained that the donation ($500) was made to a local charity in honor of a local hero due to them having just purchased a home using the lender for their mortgage and the local real estate office as their realtor. They stated that this is an ongoing project. If a local hero (veteran, active military, fire fighter, police officer, etc), uses this particular local real estate office as their realtor and this mortgage lender for the mortgage, the lender will make a donation to a local charity of $500.
I see red flags all about this and would like to report it but I'm not certain if I'm correct to think this violates RESPA. Any thoughts on this are appreciated!
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