Knowledebase Tag: HUD
- A buyer broker whom I know told me that he regularly shares part of his fees with the buyer he represents. Also, he pays the buyer outside of closing with no indication of the payment shown on the HUD-1 Settlement Statement. Isn’t that illegal?
- Why does this practice not constitute payment of an illegal kickback and therefore violate RESPA?
- What about programs that offer to pay a real estate agent for names of potential borrowers?
- Some programs offer to make real estate agents part-time employees of the lender. How does this work and is it legal?
- I keep hearing about new RESPA rules that allow real estate agents to sell a buyer a home and earn a loan-origination fee from the lender. Others claim that their programs have been blessed by HUD. What are these new rules and have lenders received HUD approval for these programs?
