Key Takeaways
- Affiliated business arrangements are permitted under RESPA but require written disclosure, consumer choice, and no disguised referral fees.
- FinCEN beneficial ownership rules and Geographic Targeting Orders increase scrutiny of cash and entity-based real estate transactions.
- Adaptive compliance systems combine regulatory monitoring, policy development, training, auditing, and response procedures.
- Technology-enabled compliance monitoring must be supplemented with human oversight and ethical culture.
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Test Your Knowledge
1.How do RESPA and TILA interact in modern mortgage transactions?
2.What is the purpose of anti-money laundering (AML) requirements in real estate?
3.What type of real estate transactions are most targeted by FinCEN Geographic Targeting Orders?