Shannon declines to distribute the flyers and explains to do so would be a violation of what law? Title XIV of the Dodd-Frank Act, Section 8 of RESPA, The FTC Act, TILA Regulation... Shannon declines to distribute the flyers and explains to do so would be a violation of what law? Title XIV of the Dodd-Frank Act, Section 8 of RESPA, The FTC Act, TILA Regulation Z.
Understand the Problem
The question is asking which law Shannon would be violating by distributing the flyers that contain marketing information related to both her and Alexis' services during the open house. It presents multiple-choice answers that suggest regulatory frameworks governing real estate and lending practices.
Answer
Section 8 of RESPA.
Shannon declines to distribute the flyers as it would be a violation of Section 8 of RESPA.
Answer for screen readers
Shannon declines to distribute the flyers as it would be a violation of Section 8 of RESPA.
More Information
Section 8 of the Real Estate Settlement Procedures Act (RESPA) prohibits real estate agents from receiving referral fees or anything of value from mortgage lenders in exchange for referring clients.
Tips
A common mistake would be confusing RESPA violations with those covered under the Dodd-Frank Act or TILA. Ensure to distinguish between RESPA's focus on referral fees and other acts addressing mortgage abuses and disclosures.
Sources
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