Get the free Affiliated Business Arrangement Disclosure Statement

This document serves as a notice regarding the business relationships that Walker Jackson Mortgage Corporation has with various service providers, including real estate services, mortgage loan origination,

How to fill out affiliated business arrangement disclosure

How to fill out Affiliated Business Arrangement Disclosure Statement

1. Obtain the Affiliated Business Arrangement Disclosure Statement form.
2. Fill in the names of the affiliated businesses involved.
3. Clearly state the nature of the relationship between these businesses.
4. Provide information on the services being offered.
5. Disclose any financial interests held by the parties involved.
6. Include a statement regarding the potential for receiving higher fees or costs.
7. Make sure to sign and date the document.
8. Give a copy of the completed statement to all parties involved.

Who needs Affiliated Business Arrangement Disclosure Statement?

1. Real estate agents and brokers.
2. Mortgage lenders and brokers.
3. Title insurance companies.
4. Settlement service providers.
5. Consumers involved in real estate transactions.

People Also Ask about

How long must affiliated business arrangement disclosures be retained for?

Any documents provided pursuant to this section shall be retained for 5 years after the date of execution.

Is an affiliated business arrangement disclosure required to be given to the consumer?

Answer: The existence of an Affiliated Business Arrangement to the consumer they are referring must be disclosed at or prior to the time the referral is made. The disclosure must comply with the Real Estate Settlement Procedures Act (RESPA).

What is an affiliated business arrangement disclosure statement?

Under federal RESPA guidelines (Real Estate Settlement and Procedures ACT), the real estate broker and/or agents that are participating in the ABA must have you sign a disclosure where they notify you that they have a financial interest in the affiliated company AND request your authorization to order title insurance

When a creditor refers a consumer to an affiliate, an ABA disclosure is due.?

The referring party must provide the AfBA disclosure to the consumer at or prior to the time of referral. The affiliated business arrangement disclosure must describe the business arrangement that exists between the two providers and give the borrower an estimate of the second provider's charges.

For pdfFiller’s FAQs

What is Affiliated Business Arrangement Disclosure Statement?

The Affiliated Business Arrangement Disclosure Statement is a document that informs consumers about business relationships between real estate professionals and service providers that may lead to financial benefits.

Who is required to file Affiliated Business Arrangement Disclosure Statement?

Real estate professionals or companies that have a significant ownership interest in a related service provider are required to file the Affiliated Business Arrangement Disclosure Statement.

How to fill out Affiliated Business Arrangement Disclosure Statement?

To fill out the Affiliated Business Arrangement Disclosure Statement, a real estate professional must provide details about the affiliated business, the nature of the relationship, and the potential financial benefits to consumers.

What is the purpose of Affiliated Business Arrangement Disclosure Statement?

The purpose of the Affiliated Business Arrangement Disclosure Statement is to ensure transparency in real estate transactions and to inform consumers about potential conflicts of interest and financial gains.

What information must be reported on Affiliated Business Arrangement Disclosure Statement?

The statement must report the names of the parties involved, the nature of the business relationship, a description of the services provided, and any ownership interest that could affect the transaction.