We are acting as a Broker to several lenders. One of our lenders is saying we can no longer pay the cost of the credit report for the Borrower. The Borrower must pay for it at closing. They will collect and have title send to us with our flat premium.
The other lenders have no such issue.
The lender in question is saying this is the result of the Lender Compensation rule effective 4/1/11. I am not finding this in the rule.
Does someone else have a resource they can direct me to?