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MEMORANDUM to All Interested Parties from Michigan Board of Michigan  Form

MEMORANDUM to All Interested Parties from Michigan Board of Michigan Form

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[Music] hello Michigan Realtors and welcome back to a new year and a new installment of letter of the law today's segment will discuss illegal Kickbacks under respa now section 8A of respa provides that no person shall give and no person shall accept any fee Kickback or thing of value pursuant to any agreement or understanding oral or otherwise that business incident to or part of a real estate settlement service involving a federally related mortgage loan shall be referred to any person now most Realtors are aware that this provision of respa prohibits a per referral payment arrangement for example it is illegal for a title company to pay a salesperson an agreed upon amount for each customer that the sales person refers to that title company some Realtors do not understand however that it is also illegal for the salesperson to receive such a payment moreover an illegal Kickback does not necessarily involve a payment per referral Arrangement any thing of value provided an appre

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