Phillip L. Schulman, a former assistant general counsel of the inspector general at the U.S. Department of Housing and Urban Development, is a partner with K&L Gates in Washington, D.C. He can be reached at firstname.lastname@example.org.
A home sale cannot be conditioned on the use of a specific title insurance company. Violators can face stiff penalties.
To help resolve confusion over fees and compensation, NAR asked the U.S. Department of Housing and Urban Development, which enforces RESPA, for a clarification on the intent of Section 8(b).
If an opportunity sounds too good to be true, it probably is. Make sure your activities can withstand scrutiny.
The Real Estate Settlement Procedures Act is strict, to be sure. But understanding and following the letter of its exceptions can mean additional income for you.