Posted By: West Coast Comp
Lender paid broker compensation with rate buy down - 05/11/11 07:43 PM
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.
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.