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Updated over 17 years ago on . Most recent reply

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7
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Quinn Kiet
  • Real Estate Attorney
  • Anaheim, CA
0
Votes |
7
Posts

Were "kick backs" commonplace as anecdotes make th

Quinn Kiet
  • Real Estate Attorney
  • Anaheim, CA
Posted

Not talking about the YSP or Origination that's disclosed on the HUD, but just plain ol' fashion cash under the table or "gifts" on your front door type deals.

Blogs and forums make it sound like every top producing loan officer was getting a little something something, but when it comes to investigations, there has not been a whole lot of evidence that this is happening.

I find it pretty much impossible to point to evidence of kick-backs unless somebody is whistle blowing, because where would these payments be reflected in any of the loan docs at closing?

Any urban myths and "stories" from a friend of a friend you guys would like to share?

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