Summary of CFPB 2020 Frequently Asked Questions – Section 8 of Real Estate Settlement Procedures Act
This tool summarizes the CFPB’s 2020 FAQs addressing RESPA Section 8 applications and rescinding of the Compliance Bulletin 2015-05. The following are key takeaways of the changes:
- Compliance Bulletin 2015-05 is rescinded.
- Certain marketing services agreements (MSAs) and other compensable activities between settlement service providers and other parties, including referral sources, are permissible.
- Neither the FAQs nor the rescission of the Compliance Bulletin are an indication of CFPBs flexibility to allow any practice prohibited under RESPA Section 8.
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