New Twist In RESPA Reform?Charge The Johns, And Let The Whores Go Free?

Was that a rental fee or a referral fee? Referral fees are prohibited by The Real Estate Settlement and Procedures Act (RESPA). Borrowing a business model from the local proprietors of hot-sheets-pay-by-the-hour motels, real estate brokers in  Howell, MI, collected $150 an hour for the use of their offices for closings by Metropolitan Title. Michigan RealView reports that the title company agreed to pay a $150,000 settlement for alleged violations of RESPA. In some cases, the real estate brokers' offices were located just blocks from the title company. HUD did not say if any of the real estate brokers were charged or fined.