Lets not get careless my friends.

[NA Foster]

Here and there I am seeing folks playing fast and loose with kick backs, referrals, leads for sale, casual approach to bird dog fees.
All of these fees have a major problem with NO DISCLOSURE, RESPA and STATE LAWS for giving or taking! The penalties are as high as $10,000 and One Year you know where. I ain’t no attorney and I ain’t going there. So before you do it take a moment and Google or check RESPA Section 8 and your state’s laws. I really like your posts so PLEASE BE CAREFUL!

[Steve Crawford]

Specifically with respect to RESPA, I may have a misunderstanding of "leads for sale" or "bird dog fees". I was under the impression that these were fees paid to the "finder" and out of the pocket of the "investor". Unlike the "kickbacks" that are ultimately borne by the borrower or home owner, which RESPA seeks to alleviate, fees that can't possibly increase the price or fees to the end user would not seem to be covered?

I may misunderstand "bird dog fees" or leads for sale.

"referrals" (with a fee) that result in the end user being required to use any service provider or purchase any service or product would seem to be prohibited.

Help me out ...........

This thread for opinion only.