A mortgage file is paused during a secondary-market screen because of RESPA Section 8 Prohibitions. Which answer should decide how the file should be documented?
Correct Answer
D) Reject the kickback or unearned-fee arrangement
RESPA prohibits kickbacks and regulates escrow, servicing, and settlement-service practices. The best answer is "Reject the kickback or unearned-fee arrangement".
Why This Is the Correct Answer
RESPA prohibits kickbacks and regulates escrow, servicing, and settlement-service practices. The best answer is "Reject the kickback or unearned-fee arrangement".
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A mortgage team asks a state compliance officer about Homeowners Protection Act PMI rules during a file review. Which answer should guide the file?
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