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| *Loan,banking and credit>>>mortgage loan |
As a mortgage broker/lender--can we offer customers giftcards if they choose to do a loan thru us? |
I know RESPA doesnt alow us to give such things to people who refer us business--but does that apply to the actual customer as well? Mortgage brokers/IFAs are akin to estate agents and traffic wardens and this looks like a further example of very sharp practice to entice business. Anything free is an incentive. A gift from you to them. It's legal Latitude is wrong. You can give a gift to your clients. A bottle of wine or a home depot gift card is not an unusual gift at the closing table. It builds good will and helps encourage referrals. Giving these gifts to an Agent is a violation of RESPA but you can give whatever you want to clients. |
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