Can a brokerage allow a mortgage company to sponsor a luncheon that offers CE for its agents?
It depends. A mortgage 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.
Does this apply strictly to Title and Mortgage Companies or does it apply to any sponsor paying for CE credit through a lunch sponsorship?