AfBA

(redirected from Affiliated Business Arrangements)
AcronymDefinition
AfBAAffiliated Business Arrangements
AfBAArmed Forces Benefit Association
AfBAAssociação Fluminense de Belas Artes (Portuguese: Fluminense Association of Fine Arts)
AfBAAllied First Bancorp, Inc.
AfBAAfrican Biographical Archive
AfBAAppalachian Fiddle & Bluegrass Association (Pennsylvania)
AfBAAsociación Ferromodelista de Buenos Aires (Buenos Aires model railroading association)
AfBAArmed Forces Broadcasters Association
AfBAAppropriate Federal Banking Agency
AfBAAustralian Farriers and Blacksmiths Association Inc.
AfBAAlliance Française Bordeaux Aquitaine (French; international school; est. 1982; Bordeaux, France)
AfBAAlbemarle First Bank
AfBAAtlanta Female Biker Association
AfBAAmerican Farm Bureau Association
AfBAAden Forces Broadcasting Association
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References in periodicals archive ?
"I think, and as most title insurance companies being deposed indicated, they have few if any affiliated business arrangements where they are the owner of an affiliated business.
"These were people who didn't want to fuss with the complexity of having to set up a sham affiliated business arrangement. They just wanted the cash directly.
Assuming you have complied with RESPA Section 8 and provided the "affiliated business arrangement disclosure," borrowers are usually agreeable to placing title and settlement with your affiliated title agency.
The release goes on to state that HUD "believes that some businesses have used the affiliated business arrangement exception under Section 8 of RESPA to steer consumers to affiliated settlement service providers that may not provide the best mortgage products or settlement services for those consumers.
The company has 375 affiliated business arrangements; 50 of those are with home builders, Smith says.
When looking at potential builder partners, RBC Mortgage looks for builders with a sound growth strategy, as well as a product mix that's conducive to having an affiliated business arrangement with a mortgage lender.
Affiliated business arrangements provide RBC Mortgage with additional revenue and profits while the affiliated business gets a financing arm to help facilitate real estate transactions.
Recognizing these strengths, in 2001 we moved to seize opportunities in nontraditional strategic business development by creating Countrywide Mortgage Ventures LLC to facilitate the formation of joint ventures and other customized affiliated business arrangements with home builders, real estate professionals and financial services companies.
We have set aggressive goals for affiliated business arrangements and jointventure activities and are moving quickly, partnering with real estate services providers and financial services providers that are interested in an alliance and that are ready to form mutually beneficial partnerships.
Affiliated business arrangement: an exception to RESPA Section 8 that allows one company in the settlement services business to have profit-making interest in another company in the settlement services business so long as the provisions of a safe harbor are followed-use of the related provider (with limited exceptions), disclosure of ownership must be made, and the exchange of fees between the companies is limited.
Since 1992, when a change in the Real Estate Settlement Procedures Act (RESPA) regulations created substantial advantages to entering affiliated business arrangements, builders, Realtors and others have formed joint ventures with experienced settlement service providers, such as mortgage companies and title insurance agencies.
Thanks to an August 6, 1997, informal advisory letter from HUD, mortgage companies may be able to help their bottom lines without all the formalities typically involved in an affiliated business arrangement (AfBA).
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