Regulatory: It takes two to tango (or to split a fee)
In a major win for the mortgage lending industry, the U.S. Supreme Court last month ruled unanimously that the prohibition under the Real Estate Settlement Procedures Act (RESPA) on splitting fees requires at least two persons to satisfy the statutory requirement of Section 8(b), 12 U.S.C. 2607(b).
By J. David Dresher, Lesley DeRamus|June 06, 2012
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