Items Tagged with 'Marketing Service Agreements'

ARTICLES

  • Sindeo bucks the MSA trend amid exploding growth

    Confident in its compliance with partnerships
    “We’re taking a very proactive and co-marketing approach that is designed from the ground up to include the real estate community,” Sindeo founder and CEO Nick Stamos said. Co-marketing is the key here, since both parties — Sindeo and the real estate partner — pay proportionally for the cost of marketing, per RESPA.
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  • CFPB, regulatory concerns drive Bank of America out of MSAs

    Megabank joins Wells Fargo, others in discontinuing marketing agreements
    Citing “recent regulatory developments,” Bank of America will become the latest lender to discontinue its use of marketing services agreements. The move comes just days after the CFPB issued guidance on MSAs, which some in the industry viewed as a "strong warning" against using the marketing agreements.
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  • CFPB doubles down against marketing services agreements

    Underscores that MSAs could constitute mortgage kickbacks
    The Consumer Financial Protection Bureau issued a bulletin that basically doubles down on a warning they put out in July about marketing services agreements. It's the stick-and-stick approach going forward, it seems. Will it work? Is it fair?
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  • CFPB to mortgage industry: Get out of MSAs

    Industry calls move regulation by enforcement
    The Consumer Financial Protection Bureau wants mortgage lenders to stop using marketing services agreements, and it’s using the stick rather than the rules process to do so. The industry says no fair, that's regulation by enforcement. What do you think?
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  • Regulatory uncertainty, toxic environment drive Wells Fargo, Prospect out of MSAs

    Recent RESPA interpretation cited as top concern
    Two major players in the mortgage space are discontinuing marketing activities that depend on Marketing Services Agreements because of regulatory uncertainty, recent interpretations of RESPA, and a generally toxic environment because of inconsistent CFPB enforcement. And more are rumored to be dropping MSAs, too. Here's why.
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  • From HW Magazine

    Avoiding RESPA kickback violations in the social media age

    Beware of penalties from referring business
    The CFPB is currently paying close attention to the individuals/small players, as well as the larger institutional mortgage companies. With respect to the small players, the CFPB is looking at the loan officer, real estate agent and developer. A common violation that these smaller firms or individuals commit, in addition to possible violations resulting from social media posts, stems from agreements among themselves.
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