(360) 342-6176

The LO Down on RESPA Violations

Posted by Sawyer Jones on November 01 2019

A thing of value under $25 is safe, right? Nope. Common misconception that has spread around the industry like wildfire. Any thing of value for a referral is potentially up to $10,000 in fines and/or a year in prison. Here is the CFPB's explanation on the section. We hired a RESPA Ref to highlight potential violations, come see how it turned out...

Here is the RESPA Ref Sketch: 

 

RESPA Violations are a hot topic in the industry, and people need to know that giving or receiving any thing of value in exchange for a referral of business is a violation for a Loan Officer.

Sometimes, all you need is the right training!  If you still need to get your 2019 CE  follow this link to get all the Online CE you need: Online Training!

 

Tags: Loan Officer, Compliance, RESPA, LO

    

Subscribe to Email Updates

Recent Posts

NMLS Approved CE for the Mortgage IndustryThe Reviews Are In // The Secret Is Out


"Ken Perry was awesome, he kept it light but we talked about serious subjects"
 
"Thank you Ken, for making what would be very dry material entertaining.  I thoroughly enjoyed this class. :-)"
 
"11 out of 10.  A+ job."
 
"Amazing format!  Thank you for what you do."
 
Are you ready to enjoy your mandatory CE?  We think once you experience the Knowledge Coop difference you'll look forward to CE each year as a chance to improve on what you do, instead of feeling like its just another hurdle to jump over.
 
Check out the classes coming up and register on the website in 2 easy steps!
 
Experience Live CE