Trulia Fort…, Other/Just Looking in Fort Lauderdale, FL

Is it common for mortgage brokers to get a "finder's fee"?

Asked by Trulia Fort Lauderdale, Fort Lauderdale, FL Thu Nov 1, 2012

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Scott Godzyk, Agent, Manchester, NH
Thu Nov 22, 2012
It is not common and is illegal in residential lending. I am glad other agents are noticing these planted questions except for a few or are answering questions without reading them. Sorry to use you as an exampe Lynne, but asking Trulia FT Lauderdale to call you to chat is not what Q and A is about. You are supposed to answer the question online for all to read and learn form your answer, not just try to solicit a new client who is not a client but a planted question. And for Trulia planting questions has no value to a consumer who probabily will not see this question and kncked a real question off the front page where now even less people will see it.
1 vote
My NC Homes…, Agent, Chapel Hill, NC
Thu Nov 22, 2012
A finders fee for a mortgage broker is illegal and would be a RESPA violation.
0 votes
Chad Gray, Agent, Fort Lauderdale, FL
Thu Nov 22, 2012
Trulia-initiated question.
0 votes
Stephen McWi…, Agent, Fort Lauderdale, FL
Sun Nov 4, 2012
Not in the residential mortgage market as that would be considered a RESPA violation. Commercial mortgages are all together different standards.
0 votes
Carl Henker, , 95928
Thu Nov 1, 2012
For finding what and for who? If you are talking a finders fee from a Realtor for referring a buyer the answer is no! It is not common and it is illegal. What are the details of the "finders fee".
0 votes
Lynne Knapp, , Fort Lauderdale, FL
Thu Nov 1, 2012
Hi Fort Lauderdale,

Per your question on Trulia > Is it common for mortgage brokers to get a "finder's fee"?

Contact me 'Lynne Knapp' (954) 647-5335 Cellular, or email me the best number and time to call you to chat!

Lynne Knapp, Realtor
ReMax Consultants Realty 1
Ft Lauderdale FL
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0 votes
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