Escrow & Title
A Mississippi property settlement agent (escrow agent) who receives a kickback for referring title insurance business violates:
AOnly state law
BRESPA Section 8, which prohibits kickbacks for referrals of settlement service business✓ Correct
COnly the Fair Housing Act
DNo law, as kickbacks are permitted if disclosed
Explanation
RESPA Section 8 prohibits any person from giving or accepting anything of value in exchange for referrals of settlement service business—including title insurance referrals. This applies to escrow agents, real estate licensees, lenders, and others.
Related Mississippi Escrow & Title Questions
- A Mississippi property's title has a 'prescriptive easement' used by a neighboring landowner for many years but never recorded. At closing, the settlement agent discovers evidence of this use. The buyer should:
- A Mississippi closing attorney's primary role at closing is to:
- Proration of property taxes at closing in Mississippi means:
- A Mississippi seller's net sheet (seller's closing statement) shows: sales price $230,000 minus mortgage payoff $145,000 minus commissions $13,800 minus closing costs $3,200. The seller's net proceeds are:
- A Mississippi property is subject to a mechanic's lien filed by a contractor who was not paid for improvements. The lien:
- A tax deed in Mississippi is issued when:
- In Mississippi, who typically prepares the HUD-1 Settlement Statement (or Closing Disclosure) for a residential real estate closing?
- A buyer's lender requires a lender's title insurance policy. This policy protects:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →