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
Author Bio:
Tracey C. Velt is a writer, blogger and editorial strategist who specializes
in the business of real estate. For the past six years, she's been writing
and editing for REAL Trends, is the editor of the REAL Trends blog and the editor of LORE magazine. Prior to that, she served as an editor for
Florida Realtor magazine and continues to contribute to multiple real estate
publications, both in print and online.
Tracey C. Velt is a writer, blogger and editorial strategist who specializes
in the business of real estate. For the past six years, she's been writing
and editing for REAL Trends, is the editor of the REAL Trends blog and the editor of LORE magazine. Prior to that, she served as an editor for
Florida Realtor magazine and continues to contribute to multiple real estate
publications, both in print and online.
