I am asked the following question least 100 times a year: Question: Is it legal for a builder to offer something to the home buyer such as extra funds to use for closing costs, or extra upgrades to the subject property, but then take those extra things off the table IF the home buyer refuses […]
Archive | RESPA
Marketing Services Agreements: Modern Day Extortion in the Real Estate and Mortgage Lending Industry
This article was originally published on Inman Select, November 3, 2015 Recent background At the end of 2013, mortgage companies and real estate firms dismantled their affiliated business arrangements (AfBAs) because the 2014 Qualified Mortgage rule required profits from AfBAs be included in the 3 percent limit on fee income. As 2014 unfolded, lenders and […]
For Loan Originators: How To Compete Against A Builder’s Lender
I am asked the following question least 100 times a year: Question: Is it legal for a builder to offer something to the home buyer such as extra funds to use for closing costs, or extra upgrades to the subject property, but then take those extra things off the table IF the home buyer refuses […]