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They all get a commission. Ask about the commission, not "rebate".
Brokers ALWAYS have to disclose YSP (Yield Spread Premium) being paid to them by the investor. This could be what you mean by rebate. You won't necessarily find out about it until you are at closing though, that's usually when all the numbers are finally revealed. I've never heard the term Calhafa and I do quite a bit of business in California.... Also, the standard I/O term on a 30 year fixed is 10 years, not 5. I would be extra cautious that there is not some sort of ARM feature built in there..... $800.00 processing seems a bit high, but perhaps they are lumping a couple of fees in together. If they are charging that AND an underwriting fee AND an application fee etc.... that could be another possible red flag for you.
The rate seems fair to me but the processing fee is a bit high, but if you're wondering about their yield spread or commission ask to see the rate sheet for the day this was locked or the current one. It will indicate the rates based on type of loan and credit score and show what the broker will make off the loan. I'm not sure about the state of South Carolina but here in South Carolina it's required for the broker to show the yield on the good faith estimate.
Its not really called a "rebate" but like the other guy said, a YSP (yield spread premium). You can have a portion of your closing costs paid through the YSP by increasing you interest rate to the point where you do not have to pay points, and you get that "rebate". You can also get your interest rate and payments low to the point that you have no more "rebate" and you actually pay for this lower interest rate through "poin ts" The bank will make money someplace, either through your interest rate or through the points, and the mortgage broker make his "commission" either through a "loan origination fee" in addition to "points" and YSP after the costs(points) for that particular interest rate have been settled. All this extra is called "overage" and its what the broker gets in commission, and yes, a broker has to disclose how much he gets.
A commission isn't a rebate....that is how they make money and no further disclosure is necessary. There are no broker fees that are being charged TO YOU by the broker....that isn't the same thing as there being no charges associated with the loan. Do you get paid to work? So do loan officers...the bank has to make money on the loan and the mortgage broker/loan officer has to make money on the loan. It is not illegal to make money....it is illegal not to tell you how much, and that is what the GFE and the TIL is for...that is all the disclosure that RESPA requires. The only illegal fees, are fees paid to the broker that do not appear on the HUD Settlement statement...but trust me, all charges will be here.
Brokers get something - that is what they are in business for. And they may be getting you the best loan for THEM, not for YOU.
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