Referrals to Affiliated Appraisal Management Company Deemed to Fall Outside RESPA AfBA Safe Harbor
Mortgage lenders should take note of a recent U.S. District Court for the Northern District of Georgia Order and Report and Recommendation finding that a referral arrangement between Amerisave Mortgage Corporation and its affiliated appraisal management company did not qualify for the safe harbor provided in Section 8(c)(4) of the federal Real Estate Settlement Procedures Act for affiliated business arrangements.
READ: Referrals to Affiliated Appraisal Management Company Deemed to Fall Outside RESPA AfBA Safe Harbor