A mortgage company wants to sponsor a luncheon for my brokerage. Is that OK?
03/25/2015 | Author: Editorial Staff
Can a brokerage allow a mortgage company to sponsor a luncheon that offers CE for its agents?
It depends. A mortgage company or title company sponsoring an educational event to promote its services can do so as long as the cost associated with the event doesn’t cover any of the agents’ other expenses they would otherwise have to pay, such as the cost of the CE credit. The mortgage company can’t sponsor the luncheon on the condition that it will receive referrals, either. And the company must promote its services during the event to qualify for the Real Estate Settlement Procedures Act (RESPA) advertising exemption.
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