I'm interested to know what you may have heard about the CFPB cracking down on Marketing Service Agreements??

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Mike Tizzano, Protect Your Transaction Certified Lender (Amerifirst Financial, Inc Equal Housing Oppurtinity Lender AZ BK0013635 NMLS 145368 LO:1015837)

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Rainmaker
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Troy Erickson AZ Realtor (602) 295-6807

HomeSmart - Chandler, AZ

Your Chandler, Ahwatukee, and East Valley Realtor

Mike - I would totally agree with you, that these MSA's are nothing more than a cover for payment for referrals. I'm glad they are cracking down on them. Even if the MSA's were completely legit, it just smells fishy and leads to a lot of distrust and concern that there is a relationship between the title company and broker that somehow benefits them both, while somehow hurting the other agent and their client.

Mar 03, 2015 02:57 PM

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Mike Tizzano

Mesa, AZ

Rainmaker
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Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

I heard that they levied some pretty hefty fines to some title companies in the Northeast.

Mar 03, 2015 05:47 AM

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Mike Tizzano

Mesa, AZ

Rainmaker
402,026

Jill Murty, Realtor - Orange County, CA

Movoto - Laguna Niguel, CA

New government regulations in the name of consumer protection that will offer little of it.

Mar 03, 2015 05:04 AM

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Mike Tizzano

Mesa, AZ

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Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

I have not heard anything of this.

Nov 25, 2019 08:04 PM

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Rainer
279,928

Dipti Thakkar

LAER Realty Partners - Andover, MA

On a team with Praful Thakkar

No idea.

Jul 11, 2018 10:04 PM

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Rainmaker
4,321,300

Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

I had ot heard about this at that time. Mike.

Feb 24, 2018 08:36 PM

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Rainmaker
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Ajay Pandya

e-Merge Real Estate Unlimited - Columbus, OH

Realtor Ajay Pandya

Good answers here. I have no opinion on this.

Feb 24, 2018 06:37 PM

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Rainmaker
3,073,563

Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Coldwell Banker Realty

Troy nailed this one!

Jul 02, 2017 05:49 AM

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Rainer
126,764

Mike Tizzano

Amerifirst Financial, Inc Equal Housing Oppurtinity Lender AZ BK0013635 NMLS 145368 LO:1015837 - Mesa, AZ

Protect Your Transaction Certified Lender

Troy Erickson Definitely. It's one thing to have good working relationships between title reps/agents/lenders but "in house lenders" and such are fishy. As long as clients are given referrals with the knowledge that they are not obligated to work with them it's ok. I'm still not sure how builders are allowed to offer incentives for using their preferred lenders.

Mar 04, 2015 12:37 AM

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Rainer
126,764

Mike Tizzano

Amerifirst Financial, Inc Equal Housing Oppurtinity Lender AZ BK0013635 NMLS 145368 LO:1015837 - Mesa, AZ

Protect Your Transaction Certified Lender

Jill Murty, Realtor I agree although the regulation itself isn't new, just further enforcement of it. But I agree with their stance that most MSAs are nothing more than a cover for payment for referrals.

Mar 03, 2015 05:11 AM

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Rainer
126,764

Mike Tizzano

Amerifirst Financial, Inc Equal Housing Oppurtinity Lender AZ BK0013635 NMLS 145368 LO:1015837 - Mesa, AZ

Protect Your Transaction Certified Lender

Consumer Financial Protection Bureau

Mar 03, 2015 02:31 AM

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Rainmaker
443,220

Cindy Davis

SD Home Source Realty - San Diego, CA

What does CFPB stand for please?

Mar 03, 2015 02:30 AM

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Mike - I would totally agree with you, that these MSA's are nothing more than a cover for payment for referrals. I'm glad they are cracking down on them. Even if the MSA's were completely legit, it just smells fishy and leads to a lot of distrust and concern that there is a relationship between the title company and broker that somehow benefits them both, while somehow hurting the other agent and their client.
I heard that they levied some pretty hefty fines to some title companies in the Northeast.
New government regulations in the name of consumer protection that will offer little of it.
Troy Erickson Definitely. It's one thing to have good working relationships between title reps/agents/lenders but "in house lenders" and such are fishy. As long as clients are given referrals with the knowledge that they are not obligated to work with them it's ok. I'm still not sure how builders are allowed to offer incentives for using their preferred lenders.
Jill Murty, Realtor I agree although the regulation itself isn't new, just further enforcement of it. But I agree with their stance that most MSAs are nothing more than a cover for payment for referrals.