Skip to content

Be wary of appraisers bearing gifts

Answered by: 

Question: 
Does Section 8 prevent us from accepting Christmas gift from providers such as appraisers and title companies?
Answer: 

Gifts are a concern, and not only during the holiday season. The recently issued FAQs allow allows “normal promotional and educational activities” directed to a referral source if the activities meet two conditions:

The activities are not conditioned on referral of business; and
The activities do not involve defraying expenses that otherwise would be incurred by the referral source.

------------------

Learn more about Jack Holzknecht’s RESPA – Section 8 Unearned Fees and Kickbacks Violations webinar.

First published on 11/22/2020

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics