NAILTA supports the FRB's definition of the term "affiliate" as a "single person" for the purposes of the Rule.
An AfBA, according to NAILTA's view, is a single entity and, accordingly, should be subject to the "single person" compensation requirements. Indeed, the trade associations refer to the "affiliate" as a "one-stop" shop.
Therefore, treating them differently for purposes of the Rule "ignores their own intent—a single location for all real estate settlement services."
Read more on National Mortgage Professional.
An AfBA, according to NAILTA's view, is a single entity and, accordingly, should be subject to the "single person" compensation requirements. Indeed, the trade associations refer to the "affiliate" as a "one-stop" shop.
Therefore, treating them differently for purposes of the Rule "ignores their own intent—a single location for all real estate settlement services."
Read more on National Mortgage Professional.
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