Question

Can Jenny accept the check?

1) Yes. It is not tied to real estate and therefore is not prohibited by The Real Estate Settlement Procedures Act
2) Yes. It is found money and times are tough
3) No. It violates The Real Estate Settlement Procedures Act because Jenny gathered the information during the processing of a real estate loan. Even though the loan wasn't done, Jenny can't take a referral fee
4) No. It

Answer 1

Jenny cannot accept the check as it violates The Real Estate Settlement Procedures Act (RESPA), which prohibits referral fees in real estate settlement processes.

Step-by-step explanation:

The Real Estate Settlement Procedures Act (RESPA) prohibits the payment or receipt of referral fees and kickbacks in connection with a real estate settlement service involving a federally related mortgage loan.

If Jenny, a real estate professional, collected information during the processing of a real estate loan, accepting a check related to that process can be seen as a referral fee or kickback, which is prohibited by RESPA.

This is true even if the loan did not ultimately close, as the act of processing the loan implies that she was engaged in providing a settlement service. Therefore, the correct response would be "No. It violates The Real Estate Settlement Procedures Act because Jenny gathered the information during the processing of a real estate loan.

Even though the loan wasn't done, Jenny can't take a referral fee."