Non-Approved Broker Services for FHA Loans Not Compensable
June 30, 2008
Federal Housing Administration regulations allow a borrower to hire a non-approved mortgage broker to assist him or her to obtain home-loan financing, but the services for which the broker can be compensated are rather limited. A non-approved broker providing loan origination services in relation to an FHA-insured “forward” or traditional mortgage is not eligible for any compensation under...