RESPA Section 8(a) states that it is a violation for a person to give or receive a thing of value in exchange for a referral of real estate settlement service business. In its March edition of Insurance Insights, the Florida Department of Financial Services (DFS) warned title insurance agents that providing inducements for the sale of title insurance is a violation of RESPA and Florida law.
The minimum state penalty for this sort of illegal act is a fine of $1,500 and one year probation. In addition, RESPA Section 8(d) provides that a person who violates the law could be fined up to $10,000 and/or face imprisonment for up to one year.
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