RESPA Compliance and Consumer Disclosures
Table of Contents
Part I. Introduction and Scope
Purpose of These Terms
Who These Terms Apply To
How to Read These Terms
Definitions
Part II. The Statutory Framework 5. Overview of RESPA and Regulation X 6. Transactions Covered by RESPA 7. Transactions Exempt from RESPA 8. What Constitutes a Settlement Service
Part III. Prohibited and Permitted Conduct 9. Kickbacks and Referral Fees 10. Unearned Fees, Fee Splitting, and Markups 11. Payments That Are Permitted 12. Required Use and Bona Fide Discounts 13. Marketing Services, Lead Generation, and Co-Marketing 14. Gifts, Promotional Items, and Educational Activities 15. Prohibition on Required Title Insurers 16. Enforcement, Penalties, and Private Remedies
Part IV. How We Operate 17. The Capacities in Which We Act 18. How We Are Compensated 19. Consumer Rebates, Credits, and Benefits 20. Affiliated Business Arrangements 21. Commercial and Advertising Relationships 22. Vendor and Partner Selection Standards 23. Compensation of Our Personnel
Part V. Disclosures You Receive 24. Timing and Sequence of Disclosures 25. The Home Loan Toolkit 26. Loan Estimate and Closing Disclosure 27. The Written List of Service Providers 28. Affiliated Business Arrangement Disclosure Statement 29. Mortgage Servicing Disclosures and Transfers 30. Escrow Accounts and Escrow Statements 31. Error Resolution and Information Requests
Part VI. Your Rights 32. Summary of Consumer Rights 33. Agency and Brokerage Relationship Disclosure 34. Fair Housing and Nondiscrimination 35. Privacy, Data, and Communications Consent 36. Wire Fraud and Closing Funds Security
Part VII. Governance and Administration 37. Our Compliance Program 38. Recordkeeping and Retention 39. Third-Party Oversight 40. Jurisdictional Variation and State Law 41. Relationship to Other Laws 42. Questions, Complaints, and Regulators 43. Relationship to Other Agreements 44. Changes to These Terms
Part I. Introduction and Scope
1. Purpose of These Terms
Nexus Real Estate LLC or our partners and affiliated companies ("Nexus," "the Company," "we," "us," or "our") provides real estate brokerage services, referral services, and consumer benefits through a technology platform. Depending on the transaction and the jurisdiction, we may represent a consumer directly as their brokerage, or we may introduce a consumer to a licensed professional at a cooperating firm who will provide representation. In either case, our business involves the provision of, or the introduction of consumers to, real estate settlement services.
This places us within the scope of the Real Estate Settlement Procedures Act of 1974, as amended, codified at 12 U.S.C. § 2601 et seq., and its implementing regulation, commonly called Regulation X, codified at 12 C.F.R. Part 1024. Rulemaking, supervisory, and enforcement authority for both rests with the Consumer Financial Protection Bureau, with concurrent enforcement authority held by certain other federal agencies and by state attorneys general and state regulators.
These terms serve four purposes.
The first is educational. RESPA is a statute written primarily for the parties it regulates rather than for the consumers it protects, and its operation is not intuitive. A consumer who understands what the law prohibits, what it permits, and why certain arrangements are structured the way they are is meaningfully better positioned to evaluate the advice they receive and the costs they are asked to bear. We have therefore written these terms to explain the framework itself, not merely to recite our own practices within it.
The second is disclosure. Where our compensation, our relationships, or our incentives could reasonably influence the guidance a consumer receives, we describe them here in general terms and in transaction-specific documents delivered separately.
The third is commitment. Several of the statements in these terms describe restrictions we impose on ourselves that exceed what the law requires. We state them publicly because a commitment that is published is a commitment that can be measured against conduct.
The fourth is accountability. These terms identify how to raise a concern with us, how to escalate it if our response is unsatisfactory, and how to bypass us entirely and go directly to a regulator. We consider the third of these to be a feature rather than a concession.
These terms are informational. They are not legal advice, they do not create rights beyond those provided by statute, regulation, and the written agreements you sign with us, and they do not modify those agreements. Where a transaction-specific disclosure conflicts with anything stated here, the transaction-specific disclosure governs that transaction.
2. Who These Terms Apply To
These terms apply to any consumer who engages with Nexus in connection with a residential real estate transaction, including prospective buyers, prospective sellers, current owners, landlords, tenants, and any person who enrolls in a Nexus consumer benefits program whether or not a transaction ultimately results.
They also describe standards we apply to our own personnel, to agents affiliated with us, to cooperating firms with whom we maintain referral relationships, and to third-party providers presented through our platform. Those parties are bound by contract rather than by this page, but the standards described here are the standards we contract for.
RESPA applies to transactions involving a federally related mortgage loan. Because it is frequently not apparent at the outset of an engagement whether a given transaction will involve such a loan, because financing structures change during a transaction, and because we regard the underlying principles as sound irrespective of financing, we apply the standards described in these terms uniformly to all consumer engagements. That includes all-cash transactions, commercial transactions, and rental engagements that fall outside RESPA's technical jurisdiction. Where a practice is described here as prohibited, we treat it as prohibited across our business rather than only where federal law compels the result.
3. How to Read These Terms
Parts II and III describe the law. They are written to be accurate and reasonably complete, and they apply to every participant in the settlement services industry, not only to us. If you are trying to understand whether an arrangement you have encountered elsewhere is permissible, those sections are where to look.
Parts IV through VI describe us specifically: how we are structured, how we are paid, what you will receive, and what you are entitled to. If you are evaluating a Nexus engagement, those sections are where to look.
Part VII describes how these commitments are administered and enforced, and how to raise a concern.
Bracketed text indicates a value that varies by jurisdiction, by program, or by transaction, and that is specified in the documents applicable to your engagement.
4. Definitions
The following terms carry the meanings given here throughout these terms. Where a definition derives from Regulation X, the regulatory definition governs and the description below is a summary rather than a substitute.
Affiliated business arrangement. An arrangement in which a person in a position to refer settlement service business, or an associate of that person, has an affiliate relationship with or a direct or beneficial ownership interest of more than one percent in a provider of settlement services, and either directly or indirectly refers business to that provider or influences the selection of that provider.
Associate. A person with an ownership, employment, family, franchise, or contractual relationship to a person in a position to refer settlement service business, as more fully defined in Regulation X.
Federally related mortgage loan. In general, a loan secured by a first or subordinate lien on residential real property designed for occupancy by one to four families, where the lender is federally regulated or insured, the loan is intended for sale to a federal secondary market entity, or the lender makes or invests in residential real estate loans above statutory thresholds. The definition captures the substantial majority of residential mortgage lending in the United States.
Referral. Any oral or written action directed to a person that has the effect of affirmatively influencing the selection of a settlement service provider by a consumer. A referral also occurs whenever a consumer is required to use a particular provider.
Required use. A situation in which a consumer must use a particular provider of a settlement service in order to receive a distinct service, property, or other benefit, or in order to avoid an economic disincentive, unless the arrangement reflects a bona fide discount that is genuinely available and not a mechanism for steering.
Settlement service. Any service provided in connection with a real estate settlement, described more fully in Section 8 below.
Thing of value. Any payment, advance, funds, loan, service, gift, discount, credit, commission, dividend, distribution, retained interest, opportunity, or other item of pecuniary benefit, whether or not it involves a transfer of money and whether or not it increases the cost charged to any consumer. The breadth of this definition is intentional and is central to how Section 8 operates.
Part II. The Statutory Framework
5. Overview of RESPA and Regulation X
RESPA was enacted in response to Congressional findings that consumers were being subjected to unnecessarily high settlement charges caused in part by abusive practices within the settlement services industry, and that consumers lacked the information necessary to shop effectively for those services. The statute pursues two distinct strategies in response.
The first strategy is informational. RESPA and its companion disclosure regime require that consumers receive standardized, comparable, timely information about the cost and nature of settlement services, delivered early enough in the process that the information can actually inform a decision. A disclosure delivered at the closing table when funds have already been committed and moving expenses already incurred is, in practical terms, not a disclosure at all. The timing requirements described in Part V exist to prevent that outcome.
The second strategy is structural. RESPA recognizes that disclosure alone cannot correct a market in which the person advising the consumer has an undisclosed financial interest in the advice. It therefore prohibits outright certain compensation arrangements, regardless of whether they are disclosed and regardless of whether the consumer consents. This is an important and frequently misunderstood feature of the statute. Consumer consent does not cure a Section 8 violation. An arrangement that constitutes an illegal kickback remains illegal even if the consumer was told about it in writing, understood it fully, and agreed to it enthusiastically.
The practical significance for a consumer is this. When a settlement service provider tells you that an arrangement is permissible because it has been disclosed to you, that statement is not necessarily correct. Disclosure is a requirement for certain arrangements, most notably affiliated business arrangements. It is not a general defense.
6. Transactions Covered by RESPA
RESPA applies to transactions involving a federally related mortgage loan secured by a first or subordinate lien on residential real property upon which there is located, or upon which there will be constructed using loan proceeds, a structure designed principally for occupancy by one to four families.
The scope is broad. It includes purchase-money loans, refinances, home equity lines of credit, home improvement loans secured by the property, reverse mortgages, and assumptions where lender approval is required. The residential structure may be a detached dwelling, a condominium unit, a cooperative interest, or a manufactured home purchased together with the underlying real estate or acquired with loan proceeds. The property need not be the borrower's principal residence.
Certain provisions of RESPA extend to servicing rather than origination and therefore continue to apply for the entire life of the loan, long after settlement has concluded. Those provisions are described in Sections 29 through 31.
7. Transactions Exempt from RESPA
Regulation X identifies categories of transaction that fall outside its coverage. These include loans primarily for a business, commercial, or agricultural purpose; temporary financing such as construction loans, subject to important exceptions where the construction loan converts to permanent financing; loans secured by vacant or unimproved property where no proceeds will be used to construct a one-to-four family structure or place a manufactured home within two years; assumptions that do not require lender approval; loan conversions where no new note is required; and secondary market transactions involving the sale or transfer of loans, as distinct from the transfer of servicing rights.
Two cautions apply to these exemptions.
First, an exemption from RESPA is not an exemption from every other applicable law. State licensing law, state consumer protection statutes, state agency disclosure requirements, the Truth in Lending Act, fair housing law, and general prohibitions on fraud and deceptive practices continue to apply. A transaction outside RESPA's scope is not an unregulated transaction.
Second, we do not rely on these exemptions as a basis for relaxing our practices. Our internal standards apply to exempt and non-exempt transactions alike, for the reasons described in Section 2.
8. What Constitutes a Settlement Service
The category of settlement services is expansive and is not limited to services performed at or near the closing table. Regulation X defines it to include, among other things, the origination, processing, underwriting, and funding of a loan; loan servicing; title searches, title examinations, and the issuance of title insurance; services rendered by attorneys in connection with settlement; the preparation of settlement documents; property surveys; credit reporting; real estate appraisal; pest and other property inspections; the conduct of settlement itself by a settlement agent; the provision of escrow services; the origination and sale of certain warranties; and, importantly, services rendered by a real estate agent or broker.
The inclusion of real estate brokerage within the definition of settlement services is the reason RESPA governs the conduct of brokerages at all, and it is the reason these terms exist. A brokerage is simultaneously a provider of settlement services and a party in a uniquely powerful position to influence a consumer's selection of other settlement service providers. That dual position is what the statute is principally concerned with.
Part III. Prohibited and Permitted Conduct
9. Kickbacks and Referral Fees
Section 8(a) of RESPA, codified at 12 U.S.C. § 2607(a) and implemented at 12 C.F.R. § 1024.14(b), provides that no person shall give and no person shall accept any fee, kickback, or thing of value pursuant to any agreement or understanding, oral or otherwise, that business incident to or a part of a settlement service involving a federally related mortgage loan shall be referred to any person.
Several features of this prohibition deserve explanation because they are commonly misunderstood.
The agreement need not be written or explicit. Regulation X provides that an agreement or understanding may be established by a practice, pattern, or course of conduct. A pattern in which referrals reliably flow in one direction and payments reliably flow in the other can establish the requisite understanding without any document ever having been executed and without either party ever having said so aloud.
A thing of value need not be money. The definition reaches services provided at below-market cost, office space provided at reduced rent, staffing support, marketing produced for another party's benefit, event sponsorships, travel, entertainment, leads, favorable credit terms, opportunities to participate in profitable ventures, and retained interests in entities. If a benefit flows and a referral relationship exists, the arrangement warrants scrutiny irrespective of the form the benefit takes.
It is irrelevant that no consumer was overcharged. Regulation X states expressly that the fact that a transfer of a thing of value does not result in an increase in any charge is not relevant to whether the act is prohibited. Section 8(a) does not require proof of consumer harm in the form of a higher price. The theory of the statute is that steering distorts the market and degrades the quality of advice even where the immediate price is unchanged.
Both the giver and the receiver violate the statute. Liability is symmetrical. A provider who pays for referrals and a professional who accepts payment for referrals are each independently liable.
A referral is not a compensable service. Regulation X states this directly: any referral of a settlement service is not a compensable service except as specifically permitted. It follows that an arrangement cannot be rescued by characterizing the referral itself as the service being paid for.
10. Unearned Fees, Fee Splitting, and Markups
Section 8(b), codified at 12 U.S.C. § 2607(b) and implemented at 12 C.F.R. § 1024.14(c), provides that no person shall give and no person shall accept any portion, split, or percentage of any charge made or received for the rendering of a settlement service other than for services actually performed.
Regulation X elaborates on this in ways that matter. A charge for which no services are performed, or for which only nominal services are performed, or for which duplicative fees are charged, is an unearned fee and violates the section. The source of the payment does not determine whether a service is compensable, meaning that a fee is not made legitimate merely because it is paid by a business rather than by the consumer.
Where a person already in a position to refer settlement service business receives payment for providing additional settlement services in the same transaction, Regulation X requires that the payment be for services that are actual, necessary, and distinct from the primary services that person already provides. This is the standard that governs whether a brokerage may be separately compensated for ancillary services it performs in a transaction where it is already acting as a broker. Bundling a nominal additional service onto an existing role in order to justify additional compensation does not satisfy the test.
Regulation X also addresses pricing. High prices standing alone are not proof of a violation. However, in assessing whether a payment exceeds the reasonable value of the goods, facilities, or services provided, the value of the referral itself, meaning the value of additional business obtained through the relationship, may not be taken into account. Compensation must be justified by what was actually delivered, valued without reference to the business the relationship generates.
11. Payments That Are Permitted
Section 8(c) of RESPA and 12 C.F.R. § 1024.14(g)(1) identify categories of payment that Section 8 does not prohibit. These are narrow and specific, and each is limited to the precise circumstance described.
The permitted categories are a payment to an attorney at law for services actually rendered; a payment by a title company to its duly appointed agent for services actually performed in the issuance of a policy of title insurance; a payment by a lender to its duly appointed agent or contractor for services actually performed in the origination, processing, or funding of a loan; a payment to any person of a bona fide salary or compensation or other payment for goods or facilities actually furnished or for services actually performed; and a payment pursuant to cooperative brokerage and referral arrangements or agreements between real estate agents and real estate brokers.
The final category, found at 12 C.F.R. § 1024.14(g)(1)(v) and at RESPA Section 8(c)(3), 12 U.S.C. § 2607(c)(3), is the provision that permits referral fees between licensed real estate brokerages. Its limits are as important as its permission.
The exemption applies only where all parties are acting within their licensed real estate brokerage capacity. It permits fee divisions within real estate brokerage arrangements. It does not authorize referral compensation flowing between a real estate brokerage and a mortgage lender or broker, a title company or title agent, an insurer, an inspector, a home warranty provider, a moving company, or any other category of settlement service provider. It does not authorize referral compensation to or from unlicensed persons or entities. It does not convert an entity that provides no genuine brokerage services into a legitimate recipient of brokerage referral fees simply because that entity holds a license.
Regulatory and enforcement attention has been directed at arrangements in which an entity holds a nominal brokerage license and functions in substance as a lead aggregator, collecting fees on referrals without performing brokerage services or exercising brokerage judgment. Whether a particular arrangement is a bona fide cooperative brokerage referral or a fee-collection mechanism dressed in a license is a fact-intensive question that turns on what the referring party actually does.
12. Required Use and Bona Fide Discounts
Regulation X defines required use to mean a situation in which a consumer must use a particular provider of a settlement service in order to access some distinct service, property, or benefit, or in order to avoid an economic disincentive.
Required use is prohibited as a condition of the affiliated business arrangement safe harbor, and an arrangement that constitutes required use falls outside that safe harbor entirely regardless of how thoroughly it has been disclosed.
Regulation X carves out an exception for bona fide discounts. Where a discount is a true discount, is not made up by higher costs elsewhere in the transaction, and is genuinely available rather than illusory, offering it does not constitute required use. The distinction is between a genuine reduction in price and a mechanism that penalizes a consumer for exercising choice.
Two narrow exceptions permit a form of required use in defined circumstances. A lender may require a buyer, borrower, or seller to pay for the services of an attorney, credit reporting agency, or real estate appraiser chosen by the lender to represent the lender's interest in the transaction. An attorney or law firm may arrange for the issuance of a title insurance policy for a client, directly as agent or through a separate corporate title agency operated as an adjunct to the law practice, as part of the representation of that client. Neither exception is available to a real estate brokerage acting as a brokerage.
13. Marketing Services, Lead Generation, and Co-Marketing
Arrangements in which one settlement service provider pays another for marketing services, advertising placement, lead generation, desk space, or co-branded promotion have been a recurring subject of regulatory enforcement, and they occupy the most contested territory in Section 8 practice.
The governing principle is that payment must be for services actually performed, at a value that is reasonable in relation to those services, determined without regard to the referrals the relationship produces. An arrangement fails this standard where the services are nominal or not actually delivered, where the payment materially exceeds fair market value for what is delivered, where compensation varies with the volume or value of business referred, where the arrangement functions to defray a marketing expense the paying party would otherwise incur for the recipient's benefit, or where the substance of the exchange is access to consumers rather than the delivery of a service.
Enforcement in this area has consistently looked past the form of the agreement to the economic substance of the exchange. A written marketing services agreement with detailed deliverables provides no protection if the deliverables are not in fact performed, or if the pricing is calibrated to referral volume rather than to the market value of the work.
Consumers should understand that lead generation and advertising arrangements are lawful and common. The presence of such an arrangement is not itself evidence of misconduct. What matters is whether the compensation is tethered to services or to referrals, and whether the arrangement has been disclosed.
14. Gifts, Promotional Items, and Educational Activities
Regulation X permits normal promotional and educational activities that are not conditioned on the referral of business and that do not defray expenses that a person in a position to refer settlement service business would otherwise incur.
Both conditions must be satisfied. An activity conditioned on referrals is prohibited even if modest in value. An activity that pays for something the recipient would otherwise have paid for themselves is prohibited even if not formally conditioned on referrals, because it transfers a real economic benefit.
There is no de minimis exception in the statute. Regulatory guidance and enforcement actions have addressed gift cards, event tickets, meals, travel, promotional merchandise, and sponsored continuing education. Small value reduces exposure as a practical matter but does not create a legal safe harbor.
15. Prohibition on Required Title Insurers
Section 9 of RESPA, codified at 12 U.S.C. § 2608, provides that a seller of property may not require, directly or indirectly, as a condition of selling the property, that title insurance covering the property be purchased by the buyer from any particular title company.
The remedy is significant. A seller who violates this provision is liable to the buyer in an amount equal to three times all charges made for the title insurance.
This protection belongs to the buyer and cannot be waived by contract. If a purchase agreement presented to you conditions the sale on your use of a specified title company, that provision is unenforceable and its inclusion may expose the seller to statutory liability. Nexus will not present, prepare, or recommend acceptance of a purchase agreement containing such a condition.
16. Enforcement, Penalties, and Private Remedies
RESPA is enforced through several parallel channels, and a single arrangement may generate exposure under more than one.
Criminal penalties. A violation of Section 8 is punishable by a fine of up to $10,000, imprisonment for up to one year, or both.
Private civil liability under Section 8. A person who violates Section 8 is liable to the person or persons charged for the settlement service in an amount equal to three times the amount of the charge paid for that service. Courts may award costs and reasonable attorney's fees to a prevailing party. Actions may be brought individually or, in appropriate circumstances, as class actions.
Private civil liability under Section 9. Treble the title insurance charges, as described in Section 15.
Regulatory enforcement. The Consumer Financial Protection Bureau may bring administrative or judicial enforcement actions seeking injunctive relief, restitution, disgorgement, and civil money penalties. Certain other federal agencies hold concurrent authority as to institutions they supervise. State attorneys general and state regulators may bring actions to enforce RESPA and may separately enforce state statutes that prohibit comparable conduct, sometimes with longer limitations periods and broader remedies.
Licensing consequences. Conduct violating RESPA will frequently also violate state real estate licensing law, exposing licensees to suspension or revocation independent of any federal proceeding.
Limitations periods. Actions under Sections 8 and 9 must generally be brought within one year of the date of the occurrence of the violation. Certain servicing claims under Section 6 carry a three-year period. Because the Section 8 period is short and begins at occurrence rather than at discovery, a consumer who suspects a violation should consult an attorney promptly rather than waiting for the outcome of an internal complaint process.
Part IV. How We Operate
17. The Capacities in Which We Act
This is the most important structural fact about our business, and it determines how every other section in this Part applies to you.
Brokerage capacity. Nexus, through its licensed agents, represents you directly. We advise on pricing, market positioning, and strategy; identify and show property; prepare, present, and negotiate offers and counteroffers; coordinate inspections, appraisals, and contingency deadlines; and represent your interests through closing. In this capacity, Nexus is itself a provider of settlement services under RESPA, and Nexus earns a real estate commission.
Referral capacity. Nexus introduces you to a licensed agent affiliated with a cooperating brokerage, and that agent provides the representation described above. Nexus does not act as your transactional agent, does not negotiate on your behalf, and does not perform brokerage services duplicating the work of the agent representing you. In this capacity, Nexus earns a referral fee of up to 50%, paid from the cooperating brokerage's commission.
18. How We Are Compensated
18.1 Compensation in Brokerage Capacity
Where Nexus represents you directly, Nexus earns a real estate commission for services actually performed. The amount, the source of payment, and the terms are set out in a written representation agreement that you review and sign before we perform services on your behalf.
Commissions are fully negotiable. They are not set by law, by any multiple listing service, by any trade association, or by any industry custom that binds either party. Any statement to the contrary, from any source, is incorrect.
In this capacity, Nexus is a settlement service provider and occupies a position of influence over your selection of lenders, title agents, insurers, inspectors, attorneys, warranty providers, and other services at multiple points across the transaction. Every restriction described in Part III applies to us with full force in this capacity, and we regard our exposure here as materially greater than in referral capacity precisely because the opportunities to steer are more numerous and more consequential.
18.2 Compensation in Referral Capacity
Where Nexus refers you to a cooperating brokerage, Nexus receives a referral fee from that brokerage upon successful closing. The fee is a percentage of the commission earned by the cooperating brokerage and is paid out of that brokerage's compensation. It is not an additional charge added to your transaction, and it does not increase what you pay.
Referral fees received by Nexus may reach up to fifty percent of the cooperating brokerage's earned commission, with the applicable percentage governed by the written referral agreement between Nexus and that brokerage. The percentage applicable to your transaction is available to you on request.
This arrangement operates under the cooperative brokerage exemption described in Section 11. We observe its limits strictly. Nexus does not accept referral compensation from any lender, title company, insurer, inspector, home warranty provider, moving company, or other settlement service provider, because no exemption permits it.
18.3 Fees Paid Directly by You for Platform Products
Nexus offers products that are not settlement services and that exist independently of any transaction, including document storage, equity and loan tracking, and related homeowner tools. Where you pay Nexus directly for such a product, that payment is compensation for the product itself and not for any role Nexus plays in a transaction.
Because a fee charged by a party already compensated in a transaction attracts scrutiny under Section 8(b), and because Regulation X treats duplicative fees and fees for nominal services as unearned fees, we apply the following conditions to any product fee you pay us.
The product must deliver value that is genuinely distinct from the brokerage or referral services Nexus performs, rather than repackaging work already compensated by a commission or referral fee. The product must be available on the same terms to consumers who never transact with Nexus, which demonstrates that it is a product rather than a transaction charge. The fee must be billed on its own cycle and must not be collected at settlement or through the settlement statement. Enrollment must not be a condition of receiving a referral, of representation, of a rebate, or of any program benefit, and declining must carry no consequence for the transaction. The price must be set by reference to the product's market value and must not vary with whether, when, or at what price a transaction closes.
Where any of these conditions is not met, the fee is not charged.
19. Consumer Rebates, Credits, and Benefits
A defining feature of the Nexus platform is that we return a defined portion of what we earn to the consumer whose transaction generated it.
Structure. Rebates are offered on a tiered basis, with the applicable tier determined by the Nexus program level through which you enrolled rather than by the price of the property. Your tier and the applicable percentage are stated in your Consumer Benefits Agreement at the time of enrollment.
The base to which the percentage applies. Where Nexus represented you directly, the percentage applies to the commission Nexus earned. Where Nexus referred you to a cooperating brokerage, the percentage applies to the referral fee Nexus received. Because the underlying amount varies with the structure of each transaction, the dollar value of a rebate varies accordingly, and no rebate is stated or advertised as a fixed dollar amount.
Why this is permitted. A rebate paid by a brokerage to its own client, funded from the brokerage's own compensation, is not payment for the referral of settlement service business. It is a reduction in what the brokerage retains. Federal guidance issued under RESPA has addressed this directly and concluded that such a rebate does not violate Section 8, provided that no portion of it is conditioned on the consumer's use of any particular settlement service provider. No Nexus rebate is conditioned on the use of any lender, title agent, insurer, inspector, attorney, warranty provider, or other service, in either capacity, at any tier, in any jurisdiction.
State law limitations. Rebates are lawful in most but not all United States jurisdictions. A minority of states restrict or prohibit them by statute or regulation, and some jurisdictions treat a rebate of a referral fee differently from a rebate of a commission. Nexus offers rebates only where permitted and only in a structure that complies with the rules of the applicable jurisdiction. Where you are transacting in a jurisdiction that restricts rebates, we will tell you before you enroll rather than after your transaction closes.
Lender approval and closing treatment. A rebate applied at or before closing must be disclosed to your lender and reflected on the Closing Disclosure. Lenders retain discretion over how a rebate is treated and, in some cases, whether it may be applied at all. Depending on lender policy and jurisdiction, a rebate may be applied as a credit toward closing costs, may reduce cash required at closing, or may be delivered separately following closing. Nexus does not control lender policy and cannot guarantee a particular treatment. Where a lender declines a closing credit, we will identify an alternative permissible method of delivery.
Tax treatment. A rebate to a buyer is generally treated for federal income tax purposes as an adjustment to the purchase price rather than as taxable income, which typically reduces cost basis rather than creating current income. Treatment may differ for sellers, for investment property, and under state law. Nexus does not provide tax advice, and you should consult a qualified tax professional.
Expiration and forfeiture. Rebate eligibility is subject to the expiration and forfeiture terms in your Consumer Benefits Agreement, including any requirement that a transaction close within a defined period following enrollment. Those terms are disclosed at enrollment. We will not apply an expiration or forfeiture term that was not disclosed to you in writing before you enrolled.
20. Affiliated Business Arrangements
Where a person in a position to refer settlement service business holds an ownership interest exceeding one percent in a provider of settlement services, or is otherwise affiliated with that provider, and refers business to it, RESPA treats the relationship as an affiliated business arrangement and permits it only under three strict conditions.
First, timely written disclosure. You must receive a written Affiliated Business Arrangement Disclosure Statement, in the format prescribed by Appendix D to Regulation X, at or before the time of the referral. The statement identifies the provider, describes the nature of the relationship including the percentage of ownership interest, and sets out the estimated charge or range of charges generally made by that provider.
Second, no required use. You may not be required to use the affiliated provider, subject only to the narrow exceptions described in Section 12. Your decision to use or decline an affiliated provider has no effect on your relationship with us, the level of service you receive, your rebate tier, your program benefits, the timeline of your transaction, or the terms of any agreement between us.
Third, no compensation other than a return on ownership. The only thing of value that may be received from the arrangement, beyond payments otherwise permitted under Section 8(c), is a return on an ownership interest or franchise relationship. Per-referral compensation from an affiliated provider is prohibited and is not received.
The disclosure obligation attaches at the point of referral, not at closing. A disclosure delivered in a closing package is untimely and does not satisfy the requirement.
21. Commercial and Advertising Relationships
Distinct from affiliated business arrangements, Nexus maintains commercial relationships with third parties whose products or services may be advertised, displayed, or made available through the Nexus platform. These relationships do not involve ownership interests, and the compensation is advertising and marketing compensation rather than referral compensation.
We disclose these relationships through a written Business Advertising Relationship Disclosure identifying each participating provider, describing the nature of the relationship, and stating whether and how Nexus is compensated.
The structure of the compensation is the central question in the analysis. Compensation that is fixed, is paid for advertising placement, and does not vary with whether any consumer transacts with the provider is ordinary advertising. Compensation that is contingent on a consumer obtaining a product or service from the provider presents a substantially different question under Section 8, because the payment then correlates directly with the successful direction of consumer business. Where any Nexus advertising compensation is contingent in this manner, we disclose the contingency expressly, we obtain legal review of the arrangement before it is offered, and we apply the same disclosure timing required of a referral.
This analysis is more exposed where Nexus is acting in brokerage capacity, because we are then presenting a compensated product to a consumer we represent and to whom we owe duties.
You are under no obligation to use any provider presented on the Nexus platform. Your decision has no effect on any Nexus benefit, rebate, service level, or transaction timeline.
22. Vendor and Partner Selection Standards
Where we suggest a provider, we do so on the basis of licensure and standing, demonstrated service quality, responsiveness within the timelines a transaction requires, and consumer feedback. We do not select or rank providers on the basis of compensation paid to Nexus.
Where more than one qualified provider exists in a category, our practice is to present more than one and to state plainly that the choice is yours and that other providers not presented are equally available to you. Where we present only one, it is because we are aware of only one that meets our standards for the specific circumstance, and we will say so and explain why on request.
Where a suggested provider is one from which Nexus receives any compensation of any kind, that fact is disclosed at the time of the suggestion rather than in a document you will read later.
23. Compensation of Our Personnel
Internal compensation structures are a frequent and under-examined source of steering risk, because an incentive that is prohibited between companies can be replicated inside one.
Nexus does not compensate personnel on the basis of the volume or value of business directed to any particular lender, title agent, insurer, inspector, warranty provider, or other settlement service provider. No component of internal compensation, whether salary, commission, bonus, contest, recognition, quota, or advancement, is tied to the selection of any such provider.
Nexus also does not compensate personnel in a manner that rewards the selection of one Nexus capacity over the other where the choice is adverse to the consumer. A structure that paid personnel more for retaining a client in brokerage capacity than for referring them to a better-suited outside specialist, or the reverse, would create precisely the distortion the statute is concerned with, and we do not maintain one.
Regulation X permits an employer to pay its own employees for referral activities in defined circumstances. We do not rely on that permission as a basis for tying personnel compensation to the selection of third-party settlement service providers.
Part V. Disclosures You Receive
24. Timing and Sequence of Disclosures
The value of a disclosure is a function of when it arrives. The following sequence describes the disclosures a consumer typically receives in a financed residential purchase. Timing requirements are stated as they apply to the party responsible for delivery, which in several cases is your lender rather than Nexus.
At or before the point Nexus makes any referral or you enter any representation agreement, you receive our capacity disclosure, the applicable representation or referral agreement, any Affiliated Business Arrangement Disclosure Statement, any Business Advertising Relationship Disclosure, the applicable state agency disclosure, and your Consumer Benefits Agreement where a rebate program applies.
Within three business days of your loan application, your lender must deliver the Loan Estimate, the written list of settlement service providers where applicable, and, for purchase-money transactions, the Home Loan Toolkit and the Mortgage Servicing Disclosure Statement.
No later than three business days before consummation, you must receive the Closing Disclosure.
At settlement or within forty-five days of establishment, you receive the initial escrow account statement where an escrow account is established.
Following closing, you receive annual escrow account statements, notices of servicing transfer where servicing changes, and the ongoing protections described in Sections 29 through 31.
25. The Home Loan Toolkit
For purchase-money federally related mortgage loans, the lender must provide a booklet, currently titled the Home Loan Toolkit, prepared by the Consumer Financial Protection Bureau, within three business days of receiving the loan application.
The booklet is genuinely useful and is frequently discarded unread. It explains the settlement process in plain language, describes how to compare loan offers, explains each category of settlement cost, and includes worksheets for evaluating affordability. It is prepared by a regulator rather than by any party with an interest in your transaction, which makes it one of the few documents you will receive that carries no commercial motive.
26. Loan Estimate and Closing Disclosure
The Loan Estimate and Closing Disclosure are the two central cost disclosures in a financed transaction. They are required under the Truth in Lending Act and Regulation Z through the integrated disclosure rules, and they operate alongside RESPA rather than under it, but they are the practical mechanism by which RESPA's informational objectives are met.
The Loan Estimate must be provided within three business days of application and at least seven business days before consummation. It states the loan terms, projected payments, estimated closing costs, and cash to close in a standardized format designed for comparison across lenders. Because the format is standardized, Loan Estimates from different lenders can be compared line by line, and doing so is the single most effective step available to a consumer seeking to reduce settlement costs.
The Closing Disclosure must be received at least three business days before consummation. It states final terms and costs in a format that maps to the Loan Estimate, permitting direct comparison. Certain changes, including an increase in the annual percentage rate beyond tolerance, a change in loan product, or the addition of a prepayment penalty, restart the three-day period.
Tolerances. Certain charges may not increase from the Loan Estimate to the Closing Disclosure at all, including lender charges and charges for services you cannot shop for. Certain other charges, including recording fees and charges for services you shopped for using the lender's written list, may increase only within a ten percent cumulative tolerance. Charges for services you shopped for outside the written list are not subject to a tolerance. Where a tolerance is exceeded, the lender must cure the excess.
What to check. Compare the Closing Disclosure against the Loan Estimate line by line. Confirm the loan amount, rate, term, and monthly payment. Confirm that any Nexus rebate or credit appears where you expect it. Confirm that the parties named as receiving fees are the parties you selected. Raise discrepancies before consummation, when correcting them is straightforward, rather than after.
Transactions using a settlement statement. Certain transactions fall outside the integrated disclosure rules and instead use a settlement statement in the form prescribed by Regulation X, including reverse mortgages and certain other categories. Where a settlement statement is used, you have the right to inspect a completed version, containing the items known at that point, during the business day immediately preceding settlement, upon request to the settlement agent. Exercising that right converts a document you would otherwise see for the first time at the closing table into one you can review without time pressure, and we encourage you to request it.
No charge may be imposed for preparing required disclosures. Regulation X prohibits any charge for preparing the settlement statement, the escrow account statement, or any disclosure required under the Truth in Lending Act. If a fee for preparing any of these appears on your statement, it is improper and should be challenged before you sign.
All-cash transactions. Where no mortgage loan is involved, neither the Loan Estimate nor the Closing Disclosure is required, and you will typically receive a settlement statement prepared by the closing agent or attorney. You retain the right to request and review it in advance, and we will request it on your behalf. The absence of a federally mandated disclosure does not mean the figures are unreviewable, and a cash transaction is where unreviewed settlement charges most often go unnoticed.
27. The Written List of Service Providers
Where a lender permits you to shop for a settlement service, it must provide a written list of providers for that service along with the Loan Estimate.
The list is a starting point rather than a constraint. You may use a provider on the list or any other qualified provider you prefer. The practical consequence of the choice concerns tolerances: selecting from the list places the charge within the ten percent cumulative tolerance, while selecting outside it removes the tolerance protection for that charge. Neither choice is wrong, and the tolerance consequence is worth understanding rather than defaulting to the list without considering alternatives.
28. Affiliated Business Arrangement Disclosure Statement
Where an affiliated business arrangement exists, the disclosure must be provided on a separate document in the format prescribed by Appendix D to Regulation X, delivered at or before the time of the referral.
The statement must identify the provider, describe the nature of the relationship including the percentage of ownership interest, present the estimated charge or range of charges generally made by that provider, and include the prescribed language advising that you are not required to use the provider and that you are free to shop for the best services and rates.
Sign an acknowledgment of receipt only when you have in fact received and read the document. An acknowledgment is evidence, and signing one for a document you have not seen is not in your interest.
29. Mortgage Servicing Disclosures and Transfers
Servicing is the ongoing administration of a loan: collecting payments, maintaining escrow, and handling default. RESPA regulates it, and servicing is frequently sold or transferred, sometimes repeatedly, over the life of a loan.
At application, your lender must provide a Mortgage Servicing Disclosure Statement indicating whether servicing of your loan may be assigned, sold, or transferred.
Where servicing transfers, both the transferring and receiving servicers must provide written notice, generally at least fifteen days before the effective date, identifying the new servicer, the effective date, the address and telephone number for the new servicer, and the date on which the current servicer will cease accepting payments.
The sixty-day protection. For sixty days following a servicing transfer, a payment received by the prior servicer before its due date may not be treated as late by the new servicer, and no late fee may be imposed and no adverse credit report made on that basis. This protection exists because transfer notices are frequently missed, and it prevents an administrative change from damaging your credit.
Payoff statements. Upon written request, a servicer must provide an accurate payoff balance within a short period specified by regulation, generally seven business days. This matters when you are selling or refinancing and a delayed or inaccurate payoff figure can jeopardize a closing date.
Force-placed insurance. Where a servicer believes your hazard insurance has lapsed, it may not charge you for insurance it purchases on your behalf without first providing written notice, generally at least forty-five days in advance, followed by a reminder notice, and giving you the opportunity to demonstrate that acceptable coverage is in place. Force-placed policies are typically far more expensive than coverage you would obtain yourself and frequently protect only the lender's interest rather than yours. Where you receive such a notice, respond with proof of coverage promptly rather than assuming the servicer will locate your policy.
Protections if you fall behind. RESPA imposes obligations on servicers when a borrower becomes delinquent. A servicer must make good faith efforts to establish live contact and inform you that loss mitigation options may be available, must provide written notice of available options, and must assign personnel who can respond to your inquiries and access your file.
Where you submit a complete loss mitigation application more than a specified period before a scheduled foreclosure sale, the servicer must evaluate it for all options available to you and may not proceed with certain foreclosure steps while the evaluation is pending. This restriction on pursuing foreclosure while an application is under review is a meaningful protection, and it is one that borrowers frequently do not know exists. If you are struggling with payments, submitting a complete application in writing is materially more protective than telephone contact alone, and doing so early preserves options that narrow as a foreclosure timeline advances.
Nexus does not service loans and is not a party to these obligations. We describe them because homeowners using our platform may hold loans for years after a transaction closes, and because a homeowner who does not know these rights exist cannot invoke them.
30. Escrow Accounts and Escrow Statements
Where a lender establishes an escrow account for taxes, insurance, or other charges, RESPA limits what may be collected and requires periodic accounting.
Cushion limits. A servicer may not require a cushion exceeding one sixth of the estimated total annual disbursements from the account, which corresponds to approximately two months of escrow payments, unless applicable state law or the loan documents specify a lower amount.
Initial escrow statement. You must receive an initial escrow account statement at settlement or within forty-five days of establishment, itemizing estimated taxes, insurance premiums, and other charges to be paid during the first twelve months and showing the payment amount and cushion.
Annual escrow statement. You must receive an annual statement within thirty days of the end of the escrow computation year, showing account activity, the current balance, projected activity for the coming year, and any shortage, surplus, or deficiency.
Surpluses and shortages. Where an annual analysis identifies a surplus above the applicable threshold and the account is current, the servicer must generally refund it within thirty days. Where a shortage or deficiency exists, the servicer may collect it over a period specified by regulation rather than demanding immediate payment.
Escrow analyses are frequently wrong, most often because a tax or insurance figure was estimated incorrectly. Reviewing the annual statement against your actual tax bill and insurance declarations page is worth the time it takes.
31. Error Resolution and Information Requests
RESPA provides two related mechanisms for addressing servicing problems, and they carry enforceable deadlines that ordinary customer service inquiries do not.
Notice of error. You may submit a written notice of error to your servicer identifying your name, your account, and the error asserted. Covered errors include failure to apply a payment correctly, imposition of an improper fee, failure to provide an accurate payoff balance, failure to make escrow disbursements, and a range of other servicing failures. The servicer must acknowledge receipt within five business days and must correct the error or provide a written explanation of why no error occurred, generally within thirty business days, with a limited extension available for certain categories.
Request for information. You may submit a written request for information regarding your account. The same acknowledgment and response timelines apply.
Protections while pending. A servicer may not provide adverse information to a consumer reporting agency regarding a payment that is the subject of a qualifying notice of error during the sixty-day period following receipt.
Practical guidance. Submit these in writing to the address the servicer designates for the purpose, which is frequently different from the payment address and is stated on your statement or website. Keep a copy and proof of delivery. A telephone call does not trigger the statutory deadlines, however diligently it may be handled.
Part VI. Your Rights
32. Summary of Consumer Rights
You are never required to use any provider we suggest. This applies whether we represent you directly or have referred you elsewhere, and to every category of provider. Any provider presented to you through Nexus is a suggestion. You may select any qualified provider you prefer. Declining a suggested provider will not reduce your rebate, change your service tier, delay your transaction, or affect your standing with us in any way.
You are entitled to know how we are paid in your transaction. You may ask at any point which capacity we are acting in, what we will earn, from whom, and whether we have any relationship with any provider we have suggested. We will answer in writing.
Commissions and fees are negotiable. No law, association, or industry practice sets them.
You have the right to shop for settlement services. Where your transaction involves a mortgage loan, you are entitled to the Loan Estimate and, where applicable, the written list of providers, and you may select providers of your own choosing.
A seller may not require you to use a particular title insurer. Section 9 prohibits it and provides treble damages.
You are entitled to your closing documents in advance. The Closing Disclosure must reach you at least three business days before consummation.
You are entitled to disclosures before, not after, the decision they inform. Every disclosure described in these terms is delivered at or before the point of referral or engagement. If you receive a referral or sign an agreement without an accompanying disclosure that these terms indicate you should have received, contact us using the information in Section 42 and we will correct it.
Your consent does not legalize a prohibited arrangement. If you are told an arrangement is acceptable because you agreed to it, that reasoning is not correct as to Section 8.
You may go directly to a regulator. You are not required to raise a concern with us first, and nothing in any agreement with us restricts your right to contact the Consumer Financial Protection Bureau, a state regulator, or an attorney.
33. Agency and Brokerage Relationship Disclosure
Where Nexus represents you directly, state law rather than RESPA governs the nature of that representation. You are entitled to written disclosure of the brokerage relationship before you disclose confidential information to us. That disclosure explains whether we act as your agent, as the agent of another party, or in a limited or non-agency capacity, and describes the duties owed to you.
These obligations are independent of RESPA and are satisfied through jurisdiction-specific documents. Requirements as to form, content, and timing vary by state.
Where a transaction presents a potential dual agency, designated agency, or comparable situation, we will disclose it in writing and obtain the consents required by the applicable jurisdiction before proceeding. We will not proceed with an arrangement requiring informed consent without having obtained it, and where we conclude that adequate representation of both parties is not achievable, we will withdraw from one side rather than proceed.
Written representation agreements. Where Nexus represents a buyer, a written representation agreement is executed before we tour property with you or on your behalf. That agreement states the compensation Nexus will receive, expressed as a specific amount or a specific method of calculation rather than as an open range or a figure to be determined later, and that amount does not increase based on what any seller or listing firm offers. If a seller or listing firm offers more than the agreed amount, the excess does not accrue to Nexus.
Compensation is separately negotiated. Compensation offered to a buyer's firm is not established by any multiple listing service and is negotiated between the parties. You may negotiate the amount in your representation agreement, may ask that a seller contribute toward it, and may decline terms you do not accept. We will explain the mechanics on request and will not present any figure as fixed by custom or by any organization.
34. Fair Housing and Nondiscrimination
Nexus complies with the Fair Housing Act, the Equal Credit Opportunity Act, and applicable state and local fair housing law. We do not discriminate in the provision of services on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, familial status, disability, source of income, or any other characteristic protected under applicable law.
We do not steer consumers toward or away from neighborhoods, buildings, or communities on the basis of protected characteristics, and we do not answer questions that solicit such steering. Where a consumer asks about the demographic composition of an area, we will explain that we cannot answer and will direct them to publicly available census and municipal data they may consult independently.
Complaints regarding housing discrimination may be filed with the United States Department of Housing and Urban Development, with the applicable state or local fair housing agency, or with us.
35. Privacy, Data, and Communications Consent
Our collection, use, retention, and disclosure of personal information is governed by our Privacy Policy, which is incorporated by reference. That policy describes the categories of information collected, the purposes of use, the circumstances of disclosure to service providers and transaction participants, retention periods, and the rights available to you under applicable privacy law.
Where you provide consent to receive telephone calls, text messages, or electronic communications, that consent is obtained separately, is recorded, is specific as to the categories of communication it covers, and may be revoked at any time by the methods described in the applicable consent disclosure and in our Privacy Policy. Consent to receive communications is not a condition of any purchase, service, rebate, or program benefit.
36. Wire Fraud and Closing Funds Security
This is not a RESPA requirement. It is included because it addresses the largest single financial risk consumers face in a real estate transaction, and because these terms are where consumers look for information about how money moves.
Wire fraud in real estate settlement generally takes the form of fraudulent payment instructions delivered by email that appear to come from a legitimate party. Attackers typically monitor a compromised email account for weeks, learn the transaction timeline and the participants' writing styles, and send instructions at the moment funds are expected to move. The resulting message is frequently indistinguishable from a legitimate one, and funds transferred are often unrecoverable.
Nexus may deliver wiring instructions by email attachment or through a secure portal depending on the transaction. Legitimate instructions can, in rare circumstances, change during a transaction, which means that the presence of a change is not by itself proof of fraud and its absence is not proof of legitimacy.
Treat every set of wiring instructions, including any purported change to instructions you already hold, as unverified until you have confirmed it by telephone using a number you obtained independently rather than a number contained in the email, attachment, or signature block. Verify the account number and routing number digit by digit during that call. Confirm receipt by telephone after sending. Where your bank offers additional verification for large transfers, use it.
Nexus will never pressure you to wire funds urgently, will never instruct you to keep wiring arrangements confidential, will never send instructions that discourage verification, and will always accommodate a verification call at any hour a closing requires. If you receive instructions that create urgency, discourage verification, or arrive from an unfamiliar address, stop and contact us by telephone immediately. If you believe you have sent funds in response to fraudulent instructions, contact your bank and law enforcement immediately, as the window for recall is measured in hours.
Part VII. Governance and Administration
37. Our Compliance Program
Compliance commitments that exist only as published text are of limited value. The following describes how ours are administered.
Designated responsibility. A named individual holds responsibility for RESPA compliance, with authority to review arrangements before they are entered into and to require that an arrangement be modified or abandoned. That individual is identified in Section 42.
Pre-approval of arrangements. No compensation arrangement with any settlement service provider, marketing partner, advertiser, or cooperating firm is entered into without documented review against the standards described in Part III. Arrangements involving contingent compensation, ancillary services performed alongside a primary role, or any relationship with a provider in a category adjacent to settlement services receive legal review before implementation.
Training. Personnel in a position to refer settlement service business receive RESPA training at onboarding and on a recurring basis thereafter, covering the prohibitions, the permitted categories, the disclosure obligations, and the specific fact patterns most likely to arise in their role.
Monitoring. Disclosure delivery and acknowledgment are tracked at the transaction level. Referral patterns are reviewed periodically for concentration that would be difficult to explain on the basis of service quality alone. Consumer complaints are logged, categorized, and reviewed for patterns rather than handled only individually.
Periodic review. These terms, the underlying agreements, and the arrangements they describe are reviewed at least annually and upon any material change in law, guidance, business structure, or provider relationships.
38. Recordkeeping and Retention
Nexus maintains written records of every disclosure delivered, every consumer acknowledgment received, every representation agreement, every referral agreement, every affiliated business arrangement disclosure, and every advertising relationship disclosure. These are retained for a minimum of five years, which reflects internal policy and, in certain categories, applicable regulatory requirement.
Referral agreements with cooperating firms are executed in writing before any referral is made and specify the compensation percentage, the licensing representations of each party, each party's obligations under RESPA and applicable state law, and the consequences of breach.
39. Third-Party Oversight
Standards that apply only to our own conduct provide incomplete protection, because much of the consumer experience is delivered by others.
Before entering a referral relationship, we verify that the cooperating firm and the individual agent hold current licensure in the applicable jurisdiction and are in good standing. Referral agreements require the cooperating firm to comply with RESPA and applicable state law, to deliver required disclosures on the schedule described in these terms, and to notify us of any regulatory action or licensing proceeding.
Where we become aware that a cooperating firm or provider has not met these standards, we address it directly and, where warranted, terminate the relationship. Where a consumer has been affected, we contact the consumer rather than waiting for a complaint.
40. Jurisdictional Variation and State Law
Real estate brokerage is regulated primarily at the state level. RESPA operates alongside state licensing law, state agency disclosure requirements, state consumer protection statutes, and state rules governing referral fees, rebates, advertising, and trust accounting. It does not displace them.
Both our licensing structure and the capacity in which we operate may differ by jurisdiction.
Referral fees may be paid only to individuals and entities appropriately licensed in the relevant jurisdiction. We verify licensure before entering any referral arrangement and do not pay referral compensation to unlicensed persons or entities.
Where state law imposes a requirement more restrictive than RESPA, including any restriction on rebates, referral fee percentages, advertising, agency disclosure, or disclosure timing, the more restrictive standard governs and we apply it.
41. Relationship to Other Laws
These terms address RESPA and Regulation X. Other bodies of law apply to residential real estate transactions and to our conduct, including but not limited to the Truth in Lending Act and Regulation Z, which govern the Loan Estimate and Closing Disclosure and the cost disclosures within them; the Equal Credit Opportunity Act and Regulation B; the Fair Housing Act; the Fair Credit Reporting Act; the Gramm-Leach-Bliley Act and applicable state privacy law; the Telephone Consumer Protection Act and applicable state telemarketing law; federal and state antitrust law, including as it applies to commission practices; state real estate licensing law and agency law; and state consumer protection and unfair or deceptive practices statutes.
Nothing in these terms limits any right or remedy available to you under any of these laws.
42. Questions, Complaints, and Regulators
If you believe an engagement, referral, disclosure, rebate, or compensation arrangement does not conform to what is described in these terms, we want to hear about it directly and promptly. We would rather correct an error than defend one.
Nexus Compliance: 205 River St, Haverhill, MA 01832
How we handle a complaint. We acknowledge receipt within 15 business days, investigate, and provide a written response within 60 business days describing what we found and what action we are taking. Where we determine that a consumer was harmed, we say so and identify the remedy rather than requiring the consumer to press for one.
You are not required to raise a concern with us before contacting a regulator, and nothing in any agreement with us restricts your ability to do so.
Consumer Financial Protection Bureau. Submit a complaint at consumerfinance.gov/complaint or call (855) 411-2372.
United States Department of Housing and Urban Development. Information regarding RESPA and fair housing is available at hud.gov.
Limitations periods. Claims under RESPA Sections 8 and 9 are generally subject to a one-year limitations period running from the occurrence of the violation. Certain servicing claims carry three years. Because the Section 8 period is short and runs from occurrence rather than discovery, consult an attorney promptly if you believe you may have a claim rather than waiting for the conclusion of any internal review. Raising a concern with us does not toll any limitations period.
43. Relationship to Other Agreements
These terms are a disclosure and informational document. They describe our practices and summarize applicable law. They do not modify, supersede, or limit any representation agreement, Consumer Benefits Agreement, referral agreement, Affiliated Business Arrangement Disclosure Statement, Business Advertising Relationship Disclosure, state agency disclosure, our Terms of Service, or our Privacy Policy.
Where a transaction-specific written disclosure conflicts with anything stated here, the transaction-specific disclosure governs as to that transaction. Where these terms describe a standard more protective of the consumer than an underlying agreement requires, we apply the more protective standard.
44. Changes to These Terms
We may update these terms to reflect changes in law, regulation, regulatory guidance, our provider relationships, our compensation structure, or our operations.
