The following was posted as a blog, but seems more appropriate here in the forums. It is a very interesting question and I am interested to hear your opinions.
A question has been posed to me. Are Fannie Mae, Freddie Mac or other national REO resale entities violating RESPA when they require buyers to use the seller's title agent?
Please comment on the use of seller's title agents being REQUIRED as an inducement to pay buyer closing costs. A client brought a copy of the seller's addendum and counter offer which states, seller will pay BCC IF the buyer uses the seller's title agent and the seller's lender! Does this not violate RESPA? Any input would be most appreciated.
-Charlene Perry
to post a reply:
login - or -
register