Regulation & law · 18/10/2001

HUD Clarifies Position on Lender Payments to Mortgage Brokers Under RESPA

The Department of Housing and Urban Development (HUD) has issued a statement of policy to clarify its position on lender payments to mortgage brokers, specifically yield spread premiums, following two recent court decisions, Culpepper v. Irwin Mortgage Corp. and Echevarria v. Chicago Title and Trust Co.