RESPA

Mr. Gordon is a leading practitioner regarding compliance with Section 8 of the Real Estate Settlement Procedures Act (“RESPA”) which prohibits referral fees while allowing for services rendered relationships. As General Counsel for the Coldwell Banker Residential Group, Mr. Gordon was significantly involved in the development of the Affiliated Business Arrangement amendments to RESPA. These amendments govern the relationships among real estate brokerage and related service companies such as those providing mortgage and tile services. This experience has resulted in the development and maintenance of extensive contacts and relationships in Washington, D.C. that are critical to resolving issues in this area.

While in private practice, Mr. Gordon represented the Prudential Real Estate Affiliates franchise organization in obtaining favorable interpretations under RESPA on compensating real estate brokers for computerized loan origination services. This activity also involved extensive interaction at the congressional and agency level including testifying before committees for both houses of congress. 

Gordon & Associates remains involved in various Section 8 issues pertaining to referral fees and permissible business structures under Section 8 of RESPA. Of particular interest to the real estate services industry is the structuring of marketing agreements in compliance with RESPA. Mr. Gordon was directly involved in working with HUD and industry trade associations in HUD’s recent issuance of its Interpretive Rule on marketing agreements. RESPA is now under the jurisdiction of the Consumer Financial Protection Bureau, which the firm deals with for mortgage banking issues. Related to this are significant changes in Dodd Frank that potentially restrict the utilization of Affiliated Businesses by mortgage companies. Gordon & Associates is well positioned and informed to advise clients on these issues.    

Mr. Gordon is also available to provide expert witness services on RESPA Section 8 litigation. In the same respect, and as a result of his prior involvement with the management of real estate service companies, he has also provided advice from a consulting perspective to such companies on operational issues as they relate to RESPA.

search

CONTACT

 

RESOURCES

Dodd-Frank

Congressional revisions to mortgage banking law.

2013 Real Estate Settlement Procedures Act (RESPA)

Statute prohibiting referral fee arrangements. 

 

PUBLICATIONS

Are the Rule-Makers Getting Realistic?

MAY 2013 SCOTSMAN GUIDE

A closer look at how the Consumer Financial Protection Bureau is adapting to the realities of the industry.

The Major Problem with Micromanaging

JAN 2013 SCOTSMAN GUIDE

Could excessive regulation threaten the entire mortgage industry?

Getting Better All the Time

MARCH 2014 SCOTSMAN GUIDE

Several recent developments may bode well for affiliated business arrangements. 

The Current State of Industry Regulation

NOVEMBER 2014 SCOTSMAN GUIDE

With so many rules in place, certain regulatory fixtures may serve the industry well.

Marketing-Services Pacts Are Given a Cold Shoulder

NOVEMBER 2015 SCOTSMAN GUIDE

CFPB is unilaterally re-writing marketing agreement rules.

 

ARTICLES

The Changing Landscape for Mortgage Companies

CFBs recent regulations impacting mortgage business