Trying to 'get in the door' representing my Title Company can be difficult at times as many Realtors and Mortgage Brokers are part of ABA's with existing Title companies. (I've had some Realtors say to me that their owner has it as company policy to use the ABA....??????? wow).
My questions are this:
1) Do you belong to one? (just getting a feel for AR members)
2) Do you give 100% of your Title work to them?
3) If #2 is YES...how does that fit in with the many blogs in here that suggest one Mortgage Broker or Realtor offering does not fit each client? In other words....Do you think ONE TITLE company is a best fit for every client you have?
4) What would or does make you willing to not use your ABA on occasion?
Any other comments regarding ABA's and Realtors is appreciated. I'm here to learn.
Thks,
Rob
http://www.realtor.org/government_affairs/respa/aba.html
Home > Government Affairs > RESPA |
| Affiliated Business Arrangements |
| As RESPA violations can carry serious consequences, if you have questions or concerns about your affiliated business arrangements, we encourage you to seek additional resources such as NAR's Pocket Guide on AfBAs, available on this website, and obtain legal advice. | | | | What's an Affiliated Business Arrangement? | | An affiliated business arrangement (AfBA) exists when a person in a position to refer settlement business, such as a real estate broker, or an "associate" of such person has an affiliate relationship with, or a direct or beneficial ownership interest of more than one percent in, an entity to which business is referred, such as a joint venture title or mortgage entity |
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