The U.S. Supreme Court decides in favor of the National Association of REALTORS’® position in a pivotal RESPA case. The following guidance on the case was provided by NAR’s Legal Affairs:
In a case involving mortgage lending but which has direct application to real estate brokerage, the Supreme Court of the United States has determined that a violation of Sec. 2607(b) of the Real Estate Settlement Procedures Act (“RESPA”) only occurs when a split of a settlement-service fee paid by a consumer to a real estate settlement-service provider is split with a third party.
Read the Article here: Supreme Court Rules Fee Split Required for RESPA Violation