§ 120.926. Referral fee.
81 words·~1 min read·
/us/cfr/t13/s§ 120.926·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The CDC can receive a reasonable referral fee from the Third Party Lender if the CDC secured the Third Party Lender for the Borrower under a written contract between the CDC and the Third Party Lender. Both the CDC and the Third Party Lender are prohibited from charging this fee to the Borrower. If a CDC charges a referral fee, the CDC will be construed as a Referral Agent under part 103 of this chapter. \[68 FR 57988, Oct. 7, 2003\]