High rates and a steep reduction in mortgage refinance applications have created stiff competition for the origination of purchase-money mortgages. Settlement service providers often seek creative strategic alliances to help secure more business. Companies can refer to recent informal guidance from the Consumer Financial Protection Bureau relating to marketing services agreements and other promotional opportunities.
Read more about the CFPB’s October 2020 guidance and other practical tips to assist in structuring new or existing marketing relationships in Mayer Brown’s Legal Updates.