answersLogoWhite

0

A broker charging a transaction fee may violate the real estate Settlement Procedures Act (RESPA) if the fee is merely an add-on without a clear, direct correlation to services rendered. RESPA prohibits unearned fees and kickbacks, meaning that all charges must be for legitimate services that benefit the consumer. If the fee lacks transparency or justification, it could be considered a violation of the act, potentially leading to legal and financial repercussions for the broker.

User Avatar

AnswerBot

3w ago

What else can I help you with?

Related Questions

A broker charging a transaction fee may be a violation of the real estate settlement procedures act if?

A broker charging a transaction fee may violate the Real Estate Settlement Procedures Act (RESPA) if the fee is deemed a kickback or if it is not clearly disclosed to the consumer. RESPA requires that all fees associated with a real estate transaction must be transparent and justified. If the fee is not for a legitimate service or is not disclosed at the appropriate time, it may lead to noncompliance with RESPA regulations. Additionally, if the broker receives compensation from another party for referring business without disclosing it, this could also constitute a violation.


How visa card earn money?

The Visa card company earns money by charging customers for some services (especially cash withdrawals) and by charging shopkeepers a fee against transaction where their cards are used.


What is the maximum amount of time a merchant can wait before charging your debit card?

The maximum amount of time a merchant can wait before charging your debit card is typically within a few days to a week after the transaction is made.


What is Semipermanent memory?

Semipermanent memory is a part of processor memory that stores the programs for call processing, charging, and exchange maintenance procedures, and tables with data for digit analysis, call routing and charging, and so on.


How do you charge an R404A unit?

Charging an R404A unit involves connecting a charging hose from a refrigerant cylinder to the low-pressure side of the system. The refrigerant is then added slowly, while monitoring the system's pressure and temperature to ensure proper charging levels are reached. It is recommended to consult a professional technician to ensure correct charging procedures are followed.


How an investment company earns income through dealings in securities?

An investment company earns income through dealings in securities in a number of ways: 1. Charging clients a management fee for managing client portfolios 2. Charging clients transaction fees on each individual securities transaction 3. Making capital gains on the investments it makes with its own holdings and assets


What are the pentalites in basketball?

Traveling Walking Backcourt Violation Over-The-Back foul Shooting Foul Offensive Foul Reaching in foul On the pass foul Blocking Foul Charging Three seconds in the key Eight Seconds Backcourt Five seconds Inbounding Out Of Bounds Shot Clock Violation Flagrant Foul Technical Foul Lane Violation 10 seconds Free Throw Violation Carrying I think that's it. -David


What is an accounting transaction?

An accounting transaction is the exchange of request/response messages to perform accounting. Accounting can be performed in the form of accounting transactions that report on resource usage by a session. Accounting transaction can occur during a session if accounting or charging indications are needed [pol based acct] or only at the start and the end of the session. http://209.85.175.104/search?q=cache:EcDJEY4QjJAJ:www.aaaarch.org/doc09/session_id-29nov2000.doc+%22accounting+transaction+is+the%22&hl=id&ct=clnk&cd=2&gl=id A transaction is an execution of a user program and is seen by the DBMS as a series or list of actions.The actions that can be executed by a transaction includes the reading and writing of database.


What is charging out procedure?

Charging out is the process of invoicing or billing a client for services rendered or products provided. This involves recording the details of the transaction, including the amount due and any terms of payment, and then sending the invoice to the client for payment. It is an important step in the financial management of a business to ensure timely and accurate revenue recognition.


When charging liquids should be added to the side of the compressor?

When charging liquids, they should be added to the side of the compressor to ensure proper mixing and prevent slugging. This method allows the liquid refrigerant to vaporize adequately and ensures that it enters the compressor in a gaseous state, reducing the risk of damage. Additionally, adding liquids to the side helps maintain the compressor's efficiency and performance during the charging process. Always follow manufacturer guidelines for specific charging procedures.


What IS UNLIKELY TO AFFECT REFRIGERANT CHARGING ACCURACY?

Factors that are unlikely to affect refrigerant charging accuracy include ambient temperature fluctuations and minor variations in refrigerant type, as long as the system is designed for the specific refrigerant being used. Additionally, the physical condition of the charging equipment, such as minor wear and tear, typically has minimal impact on the accuracy of the charge. However, maintaining proper procedures and using calibrated instruments are crucial for ensuring accurate refrigerant charging.


What is pushing shoving hitting tripping over the back and charging is called what?

Those actions are generally considered fouls in basketball. Each action has its own specific violation, such as pushing or shoving being called as a personal foul, hitting as a flagrant foul, tripping over the back as a blocking foul, and charging as an offensive foul.