Tag: Lender Credit

Compliance – Lender Credit Incentives: Is it okay for a lender to offer a $500 credit to borrower, and/or also pay for appraisal?

Answer: A lender can pay for borrower’s closing costs/prepaids, and an appraisal would be considered a closing cost. The issue is not whether a lender can do this, it is whether or not it results in varying treatment of your clients. During an audit, regulatory bodies such as the CFPB will look to see if you […]

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Freddie Mac – Multiple Selling Guide Updates – Bulletin 2018-12 – Dated July 25, 2018

Written By: Lloyd Rutherford, Staff Writer Freddie Mac is making some small changes that cure some big headaches in this selling guide update. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. There are other changes that actual Freddie Mac […]

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