WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today announced an agreement with Fidelity National Financial, Inc. (FNF) to settle allegations the title company paid real estate brokers and other settlement service providers improper kickbacks or referral fees in violation of the Real Estate Settlement Procedures Act (RESPA). Read the full text of the agreement announced today.
HUD claimed FNF and its affiliates and subsidiaries engaged in a widespread and years-long campaign to pay real estate brokers kickbacks for the referral of real estate settlement services, including home warranties and title insurance.FNF agreed to cease this practice and pay HUD $4.5 million to resolve the complaint.
"RESPA is very clear that paying fees or providing anything of value for the simple act of referring business is a violation of law," said Acting FHA Commissioner Robert Ryan. "This agreement should be a signal to others that these business practices won’t be tolerated."
HUD alleges that FNF, through its subsidiaries, paid fees for the referral of settlement service business in violation of Section 8 of RESPA. To facilitate these payments, real estate brokerages entered into "Application Service Provider Agreements" which provided the real estate brokerages access to TransactionPoint, a web-based platform that automates the real estate transaction from listing to closing. This online system also allows the brokers to select real estate settlement providers for a particular real estate transaction. The real estate brokerages, in turn, entered into Sub-License Agreements with subsidiaries of FNF to enable FNF’s subsidiaries to be listed in TransactionPoint as a provider of settlement services. As part of the Sub-Licensee Agreement, HUD alleges that FNF’s subsidiaries paid the real estate brokerages a fee for each referral of real estate settlement services.
RESPA was enacted in 1974 to provide consumers advance disclosures of settlement charges and to prohibit illegal kickbacks and excessive fees in the homebuying process. Section 8 of RESPA prohibits a person from giving or accepting anything of value in exchange for the referral of settlement service business.
Sunday, July 17, 2011
Tuesday, July 5, 2011
Here are some fabulous Conferences, Events, Shows and Presentations across Texas!
All events have vendor and sponsorship opportunities or just come and attend! We are a sponsor for all of these events so come out and say "Hi"!
Tall City Blues Festival Midland, TX July 29th- 31st
Nestled in the heart of downtown Midland, TX, Tall City Blues Fest will host award-winning blues and roots music, a Shrimp & Crawfish Boil, Educational Workshops and Presentations by Performing Artists, VIP Exclusive Areas, Midnight Troubadours, and a BBQ Cook-Off. Activities both indoor and outdoor. Sponsorships and Vendor applications available online. Weekend Festival Passes Purchases $40 for come-and-go access the entire weekend. Blues Jam on Sunday is FREE. Special hotel rates available to Festival attendees. RV and motorcycle parking also available. For more info, go to www.tallcitybluesfest.com or call 432-262-0034 or lisa@promisingprojects.com
2011 Back to Basics One Woman Conference Sugarland, TX: August 19-20th
Changing the face of business one woman at a time! More than a conference… A Movement! Huge event with Lisa Ling: Journalist as the keynote speaker. For tickets go to www.onewomanconference.com and for vendor/sponsorship opportunities contact 281-213-9554 or events@mwhpublicrelations.com today!
Bebe Paluzza Austin: Aug 19-20th
We specialize in producing maternity, baby and toddler consumer events around the country. Our events are designed for expectant mothers and parents, grandparents, and caregivers of babies and toddlers. We provide the forum to market your product or service directly to consumers. We provide consumers with “THE” place to experience the latest and greatest in maternity, baby, and toddler products and services. Bebe Paluzza is the one-stop destination for everyone. www.bebepaluzza.com Vendor and Sponsorship Opportunities contact Kelly Pryor 317-250-1250 or Kelly.pryor@bebepaluzza.com
Snap Out Of It! Women’s Conference Dallas: September 16th and 17th
A Fantastic New Conference where 150 women are expected in attendance and 35 vendors. Focus is on both personal and professional development with an emphasis on success stories and women sharing their "Snap Out of It" moments.
Contact Minette Riordan 972-516-9070 or minette@northtexaskids.com http://www.snapoutofitwomensnetwork.com/
North Dallas Kids Expo Plano: November 5th
They will have a minimum of 100 vendors and last year we had over 5,000 people attend! Attendees come from all over the metroplex. This is North Texas Kids Magazine’s biggest event and is always a ton of fun. Contact Minette Riordan 972-516-9070 or minette@northtexaskids.com http://northtexaskids.com/php/expo_top.php
Stand Out In Your Business Presentations!
A new concept in building success: Success Coaching, Success Websites and Success Book Publishing! We can help you Stand Out from the Crowd! We also have a unique revenue sharing model that will bring in another revenue stream while helping you achieve the success you deserve! Go to www.StandOutInYourBusiness.com for more info or come to one of our Full Presentations…
Any Questions, contact Tonya Hofmann: 512-436-5645 or Tonya@StandOutInYourBusiness.com
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