Source of Title Forums: Re: What about....

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[-] What about.... - mason haas/NY (9 replies)
9/19/2006 7:27:30 PM (2794 views)
Re: What about.... - Robert Franco/OH
9/19/2006 8:11:04 PM (3586 views)
Re: What about.... - Kevin Ahern/CT
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Re: What about.... - Ricky Farrow/FL
9/21/2006 8:42:46 PM (3432 views)
Re: What about.... - John Povejsil/MN
9/22/2006 10:41:05 AM (3436 views)
Re: What about.... - Ricky Farrow/FL
9/22/2006 10:46:42 PM (4935 views)

Can a lender collect from the borrower an appraisal fee of $200, listing the fee as such on the HUD-1, yet pay an independent appraiser $175 and collect the $25 difference?

No, the lender may only collect $175 as the actual charge. It is a violation of Section 8 (b) for any person to accept a split of a fee where services are not performed.

Substitute "Search/searcher" for "Appraisal/appraiser" above. This is item 25 of FAQs on the Hud Website regarding fee splitting.

See the "Tools" section at my website www.fficorporation.com for the full link and others.

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Re: What about.... - mason haas/NY
9/27/2006 8:02:45 AM (3395 views)
Re: What about.... - Ricky Farrow/FL
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Re: What about.... - mason haas/NY
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Re: What about.... - Kevin Ahern/CT
9/28/2006 10:14:20 AM (3306 views)

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