Ok guys - I have seen this question posted before, but no one has answered!

We have two lenders that we broker our FHA loans through in Illinois. One of the lenders does NOT include the UFMIP in the total fees calculation, and one lender does. Our take is that this is a fee that is not paid to us, but goes directly to HUD, therefore it should not be counted against us when calculating for the 5% fee cap.

I know I'm right, but where can I find proof?