Why Form 8865 Sections 2023-2024

Hi, attorney Steve Vaughn, during the business and real estate lawyer, we're back. We are talking about RESPA law in this video, and we will head to follow me now, the attorney Steve business a real estate whiteboard. Alright, I know it's kind of a mess, but these are my notes. I'm gonna go over RESPA log, give you a little overview of RESPA. As you know, may know if you're in the real estate business, RESPA is a federal law, as opposed to a state law. So, the first point is state law is always allowed to provide greater protections, greater protections to consumers and and whatnot, but greater protections than federal law offers. Now, a lot of people don't understand that principle, it's very basic. Federal law sets baseline standards, states are allowed to to grant more protections. Okay, so realize this is general legal information in the area of RESPA law. It's very fact-specific, so if you have questions, you should engage a real estate lawyer like myself. Give us a call, we'll go over your situation. For now, let's talk in general terms about RESPA on our real estate and business whiteboard. Okay, we are talking RESPA section 8 referral fees and illegal kickbacks. Okay, this is something that when you have settlement service providers that are providing services that are raising the costs to the consumer, that's what RESPA is trying to prevent. Who enforces RESPA? Basically, it's HUD (Housing and Urban Development). HUD.gov. They have some good policy statements there on RESPA. If you're in the real estate business, you want to understand it some more, HUD.gov has some policy statements. Check those out. The Consumer Financial Protection Bureau, the newly created entity CFPB, also engages in HUD or sue me, RESPA real estate...