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#123986 - 01/29/07 07:09 PM Lender Question For Brokers
Daniel Sanchez Offline
Junior Member

Registered: 07/27/06
Posts: 8
Loc: Southern California
Are they any lenders out there that don't retract broker rebates if a client sells their property a month? I'm asking in the case of a client selling their home a month after buying and the mortgage broker originates a new 1st or 1st and 2nd, etc...And quite possibly after a month after completing a refi, and the owner decides to sell. Any info on this would be greatly appreciated.

-Daniel Sanchez
Vestin Properties
_________________________
Vestin Properties/Financial/Investments

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#123987 - 01/29/07 07:17 PM Re: Lender Question For Brokers
homeaide Offline
Member

Registered: 01/06/07
Posts: 46
Loc: Chattanooga, TN
My advice is to charge your fees on the front end.

Most lenders won't recapture the rebate because of just one early payoff, but this doesn't mean that they can't if they really want to.

Theres a pretty good discussion of this topic at broker outpost here:

http://www.brokeroutpost.com/loans/brokers/forum/topic.asp?TOPIC_ID=89406

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