Wyoming License Law
A Wyoming real estate licensee who refers a client to a mortgage company and receives a referral fee must:
AKeep the referral fee confidential
BDisclose the referral fee arrangement to the client✓ Correct
CNot accept any referral fee as it creates a conflict of interest
DReport the referral fee to the WREC within 10 days
Explanation
RESPA prohibits undisclosed kickbacks and referral fees in real estate settlements. If a referral fee is paid, it must be disclosed to the client. Wyoming licensees must be transparent about any financial relationships with service providers to whom they refer clients.
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