Court Conflicts Over Third-Party Markups Need SCOTUS Review
September 27, 2004
Conflicting court interpretations of the Real Estate Settlement Procedures Act’s rule on mark up of a third-party charge has made compliance uneven in a number of jurisdictions – a situation that could be quickly remedied by a U.S. Supreme Court review, according to industry attorneys. The latest twist in the RESPA section 8(b) debate came via the 2nd Circuit Court of Appeals, which recently rendered distinct opinions about “markups” and “overcharges” that agreed and disagreed