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#1963961 - 09/23/14 04:50 PM Special Loan Program
Borg3of11 Offline
Junior Member
Joined: May 2012
Posts: 31
We are offering a special loan program where we have teamed up with a builder to offer $X,XXX.XX off closing costs when an applicant purchases a new home from the builder. We recoup the costs associated with the dollar off by increasing the interest rate offered above our other loan products. These other loan programs will not be offered. Does anyone see any concerns with such a program. Any insights would be appreciated!

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Lending Compliance
#1963967 - 09/23/14 05:01 PM Re: Special Loan Program Borg3of11
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,659
Florida
Questions may be raised for:

Potential Steering with Fair Lending
RESPA - preferrential treatment to builder
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Integrity. With it, nothing else matters. Without it, nothing else matters.

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