Skip to content

Referral Programs

Answered by: 

Question: 
Are banks allowed to have referral programs for existing customers to refer new loan customers? If so, are the rules of such programs, and if not, what prohibits it?
Answer: 

As long as you are not paying for the referral of loans covered under RESPA, which would violation Section 8, you would have to check State law.

First published on 03/27/2022

Filed under: 
Filed under lending as: 

Search Topics