Interest in Marketing and Services Agreements (MSAs) has skyrocketed. No doubt, the Qualified Mortgage 3 percent cap calculations have somewhat dampened enthusiasm for affiliated businesses. As a result, real estate brokers and builders see MSAs as a viable option — and that means lenders, title companies, and closing agents have taken notice. While MSAs are lawful, the RESPA requirements for these arrangements, like many aspects of RESPA, are not crystal clear. A HUD Interpretive Rule issued in June 2010 provides some guidance, but until the Consumer Financial Protection Bureau makes its intentions known, settlement service providers must take care to adhere to the exemption standards set forth in Section 8(c)(2) of RESPA.
On Tuesday, July 15, 2014, Phil Schulman will conduct a one-hour webinar that discusses the RESPA requirements affecting marketing agreements, as well as pitfalls that can lead to enforcement actions.
As always, we will leave time for your questions on this important and timely subject.
To register for this webinar, please click here.