First, I don't think it matters... the "thing of value" isn't paid to the referrer.  Second, I don't think your assumption is exactly correct.  As I have pointed out before, my waiver of the cancellation fee has nothing to do with being "afraid of losing business."  I simply do not want to charge a consumer for something he did not benefit from.  He already didn't get his loan - I don't want to send him a bill on top of that disappointment.  It is just a courtesy that I feel good about extending to a blameless consumer.  We really have very little cost involved... a couple of hours of time having my examiner do the search, and a couple hours of my time getting all of the information together and typing up a commitment.  It is really no big deal... we don't have a lot of cancellations so there are no worries.

Best,
Robert A. Franco
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