Can lenders ethically get into the referral fee business?

Asked by james.dawson.rva, Richmond, VA Tue Feb 26, 2013

Realtor is being told by the lender that in order to keep her buying client, the Realtor will need to pay the lender a referral fee, otherwise the lender will have the buyer use a realtor in the lender's network. The buyer signed a Buyer's Agreement, but can breach the agreement and go with the lender's Realtor network, and save money.

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