The Other Required Use - ABAs v. RESPA Section 9

ABAs must ensure they don’t require the use of affiliates, but what does that mean? And don’t forget about sellers! RESPA Section 9 is sometimes overshadowed by RESPA Section 8. Come learn about prohibitions on sellers and other “required use” considerations. 

Phil Schulman (Moderator)


Mayer Brown

Phillip Schulman is a partner in Mayer Brown’s Washington DC office and a member of the Consumer Financial Services group. His practice focuses on a range of matters related to real estate finance, mortgage banking and consumer finance in both the primary and secondary markets. He represents companies in the mortgage lending, title insurance and real estate industries in connection with administrative and regulatory compliance matters, including those involving the Consumer Financial Protection Bureau (CFPB), the US Department of Housing and Urban Development (HUD), the US Department of Veterans Affairs (VA), Ginnie Mae, Fannie Mae and Freddie Mac. He advises clients on matters related to approval, origination and servicing requirements under the US Federal Housing Administration’s single-family loan programs. He also defends companies in connection with governmental audits, investigations and enforcement proceedings, before, among others, the CFPB, HUD, the VA, the DOJ and the Federal Trade Commission, with particular focus on defense of False Claims Act, Financial Institutions Reform, Recovery, and Enforcement Act, Mortgage Review Board and Real Estate Settlement Procedures Act enforcement matters.

Phillip develops and analyzes proposed business plans and drafts related agreements and disclosures based upon applicable US federal and state laws, regulations and rules, such as the Real Estate Settlement Procedures Act, the Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Fair Housing Act, state licensing laws, consumer credit laws, usury laws, unfair and deceptive trade laws and real property laws.

Phillip also performs regulatory compliance due diligence and assists with structuring operations and developing compliance management systems. He acts as regulatory counsel to the FAIR Coalition and defends clients in government investigation and enforcement proceedings concerning valuation issues. Phillip also assists with litigation involving regulatory compliance matters, consumer class action lawsuits and commercial claims.

Phillip was nationally ranked by Chambers USA 2012-2014 under Financial Services Regulation: Consumer Finance (Compliance) (Band 2). He is a member of the American College of Financial Services Lawyers and is the former general counsel to the Home Improvement Lenders Association and the former assistant general counsel of the Inspector General and Administrative Proceedings Division, US Department of Housing and Urban Development. Phillip is ranked by The Legal Network as one of the Top Lawyers in Washington, DC for 2013, and is peer rated in the Martindale-Hubbell directory as AV Preeminent, the highest level of professional excellence.

Phillip has authored dozens of articles on issues affecting the settlement service industry, and is a frequent contributor to Mortgage Banking magazine, The Title Report, the National Association of Realtors RESPA Realities and National Home Builders Association publications. He is also co-author with Laurence Platt of A Practical Guide to the Real Estate Settlement Procedures Act, published by Warren Gorham & Lamont. In 2013, with Holly S. Bunting, he co-authored MBA Compliance Essentials: The Real Estate Settlement Procedures Act.

Phillip is a frequent lecturer for seminars and conferences sponsored by the Mortgage Bankers Association, the American Land Title Association, the National Association of Realtors and other industry-related groups on various legal issues involving real estate, title, mortgage banking and consumer finance.

Loretta Salzano

Founding Partner

Franzén and Salzano, P.C.

Loretta Salzano advises banks, mortgage lenders, real estate brokers, title agents and other settlement service providers on how to increase their business while remaining within the confines of the laws of all 50 states and federal law including, but not limited to, TILA, RESPA, ECOA and HMDA. Loretta advises her clients regarding fair lending, compensation, marketing, licensure, fees, disclosures, reporting, and other matters related to their products and services. She drafts and negotiates contracts, including service agreements, compensation agreements, loan purchase and sale agreements and warehouse financing agreements. Loretta also assists clients in responding to regulatory examinations and actions.

In 2008, Loretta founded ComplyShare, LLC to provide non-legal compliance and quality control services to financial institutions. Loretta was named a Top Compliance Lawyer by Mortgage Compliance Magazine, is a Fellow of the American College of Consumer Financial Services Attorneys and serves as Legal Counsel to the Mortgage Bankers Association of Georgia and to Rainbow Village, a transitional housing program. She is active in many industry, professional and civic associations and frequently speaks on mortgage issues. Loretta’s firm serves as the Georgia editor to Houselaw. Loretta received her B.A. with High Distinction from the University of Michigan and her J.D. from the University of Michigan Law School.

Holly Spencer Bunting


Mayer Brown

Holly Spencer Bunting is a partner in Mayer Brown’s Washington DC office and a member of the Consumer Financial Services group. She practices in the areas of residential mortgage banking and consumer finance and concentrates on issues of federal and state regulatory compliance and enforcement. Holly represents companies in the mortgage lending, title insurance and real estate industries on regulatory compliance matters and defends clients subject to government audits, investigations and enforcement proceedings. She also provides counsel on federal and state consumer credit and protection laws and regulations, including the Real Estate Settlement Procedures Act (RESPA), and reviews and analyzes existing and proposed business arrangements for compliance with federal and state requirements.

Holly focuses particular attention on assisting companies in complying with the anti-kickback requirements of RESPA, including counseling clients on the creation and operation of affiliated business arrangements, reviewing proposed and existing business relationships and drafting disclosures under Section 8 of RESPA. She also advises mortgage companies and settlement agents on the TILA-RESPA Integrated Disclosure regulations and predecessor disclosure requirements. In addition, Holly counsels mortgage companies related to approval, origination and servicing requirements under government lending programs, including the Federal Housing Administration single-family loan program, and conducts regulatory due diligence related to compliance with government loan origination and servicing regulations and guidelines. She also defends companies in government enforcement proceedings, including, among others, RESPA enforcement matters, FHA and VA audits and CFPB investigations.

Holly has published articles related to RESPA and FHA issues in industry publications and is a regular speaker at webinars and mortgage and title insurance industry events.

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