An Ohio broker wants to establish an Affiliated Business Arrangement (ABA) with a title company. Under RESPA and Ohio law, which requirement must be met?
Correct Answer
C) The broker must disclose the affiliated relationship to consumers and consumers must not be required to use the affiliated service
Under RESPA Section 8(c), Affiliated Business Arrangements are permitted as long as: (1) the affiliated relationship is disclosed to the consumer, (2) the consumer is not required to use the affiliated service, and (3) no referral fees are exchanged beyond returns on ownership interest. Ohio follows federal RESPA requirements for ABAs.
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