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A lender encourages a borrower who receives a federally related mortgage loan from it to employ an attorney to perform the title searches and related
A lender encourages a borrower who receives a federally related mortgage loan from it to
employ an attorney to perform the title searches and related settlement services in connection
with their transaction. The lender and the attorney have an understanding that in return for the
referral of this business, the attorney provides legal services to the lender, or the lender's
officers or employees at abnormally low rates or for no charge.
Is this a violation or not? Discuss
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Step: 1
Based on the information provided this scenario appears to be a violation of the Real Estate Settlem...
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