What is the name of your state?
The Mortgage company is a wholly owned subsidary of the Builder.
A Builder requires Buyer to use its own Mortgage company to recieve incentive($$ off property)
The Builder has "Affiliated Business Agreement Disclosure Statement" which states:
"Because of this relationship, this referral may provide Builder a financial benefit or other benefit."
Is this in violation of Sec. 3500.14 Prohibition against kickbacks and unearned fees.
You can view the laws here.
http://frwebgate.access.gpo.gov/cgi...E=24&PART=3500&SECTION=14&YEAR=1999&TYPE=TEXT
What do you think?
The Mortgage company is a wholly owned subsidary of the Builder.
A Builder requires Buyer to use its own Mortgage company to recieve incentive($$ off property)
The Builder has "Affiliated Business Agreement Disclosure Statement" which states:
"Because of this relationship, this referral may provide Builder a financial benefit or other benefit."
Is this in violation of Sec. 3500.14 Prohibition against kickbacks and unearned fees.
You can view the laws here.
http://frwebgate.access.gpo.gov/cgi...E=24&PART=3500&SECTION=14&YEAR=1999&TYPE=TEXT
What do you think?