Escrow & Title
A RESPA Section 8 violation occurs when a settlement service provider:
AProvides a good-faith estimate of closing costs
BReceives or pays a fee, kickback, or thing of value in exchange for the referral of settlement service business✓ Correct
CDiscloses the APR to a borrower
DIssues a Closing Disclosure 3 days before closing
Explanation
RESPA Section 8 prohibits the giving or receiving of any fee, kickback, or thing of value in exchange for the referral of settlement service business, as such arrangements increase costs for consumers.
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