Ohio License Law
A real estate salesperson in Ohio wishes to receive a referral fee from a lender for sending clients to that lender. Under RESPA, this is:
APermitted if disclosed on the Loan Estimate
BProhibited as an illegal kickback in a federally related mortgage transaction✓ Correct
CPermitted if the amount is under $1,000
DPermitted if the lender and broker have a written agreement
Explanation
RESPA Section 8 prohibits giving or receiving fees, kickbacks, or anything of value in exchange for referrals in connection with federally related mortgage loans. Violations carry significant civil and criminal penalties.
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