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#1549696 - 05/11/11 07:43 PM Lender paid broker compensation with rate buy down
West Coast Comp Offline
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West Coast Comp
Joined: Jun 2010
Posts: 350
Lost in the rain.
OK So hopefully I'm just over thinking this, but here goes.

Is it OK to have lender paid broker compensation when the borrower pays for a rate buy down? and if so do you "net" the number in box 2 of the GFE and line 802 of the HUD1?

I ask due to HUD's previous prohibition on YSP and rate buy down (Q&A GFE box 2 #2). Yes I know it is not the same but since when does HUD make sense?

Thanks in advance for your opinions.
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RESPA
#1550360 - 05/12/11 06:18 PM Re: Lender paid broker compensation with rate buy down West Coast Comp
Mr. E. Offline
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Mr. E.
Joined: Oct 2009
Posts: 183
New England
Yes. That is how we do it.

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#1551298 - 05/13/11 09:37 PM Re: Lender paid broker compensation with rate buy down Mr. E.
West Coast Comp Offline
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West Coast Comp
Joined: Jun 2010
Posts: 350
Lost in the rain.
Thanks Yaz
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