Dec 29 , 2015

Tampa School of Real Estate

Affiliated Business Relationship

Definition: An arrangement in which (a) a person who is in a position to refer business incident to or a part of a real estate settlement service involving a federally related mortgage loan, or an associate of such person, has either an affiliate relationship with or a direct  or beneficial ownership interest of more than 1% in a provider of settlement services; and (b) either of such persons directly or indirectly refers such business to that provider or affirmatively influences the selection of that provider.

Pronunciation:    ə-ˈfi-lē-ā-təd

Used in a Sentence:   The broker had an affiliated business relationship with the title company.

A