Unearned Fees and RESPA

Tony Pistilli, a Certified Residential Appraiser and Vice-Chair, Minnesota Department of Commerce,
questions the unearned fees AMCs are collecting and how this remains acceptable under RESPA guidelines.  And why isn’t the bank paying for the third-party to be hired by the bank, instead of the borrower and subsequently the appraiser?

I think we are all asking the same question, Mr. Pistilli.

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