kickbacks from mortgage brokers: The Fed Bans Lenders From Paying Bonuses to Brokers For Higher Interest Rate Loans - 08/25/10 02:44 AM
So.....here at the San Diego Real Estate Cafe we almost thought this news was comical.  I mean, REALLY?!  WHY are these issues still at hand?  Haven't we seen what happens when you play with people's money - they walk from their house.  So, if we could stop doing that, it would be good.
What do you think?
Anyways, here is the news on this.
 
The ban takes effect in April.  The Fed said that its consumer tests found that borrowers generally were unaware  of the payments and how they could affect the total cost of a loan.
Critics called the … (5 comments)

 
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Krista Lombardi

San Diego, CA

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