The Housing and Urban Development better known as HUD has finally halted abusive practices by home-builders in which they would revoke huge buyer incentives for not using their preferred/affiliated mortgage company. When a colleague of mine Tom Burris shared this with me, I was jumping up and down in excitement. Over the last 2 years I have written 4 posts about this abusive behavior.
Are Builders Violating RESPA with Using In-House Lending?
Home-builders and Abusive Practices
Should I use the Home Builders Lender?
I decided to try and take some action against Home-builders and Abusive Practices
Effective Jan. 16, 2009 a new home builder can no longer use "disincentives" to steer their customers to their preferred mortgage company. HUD Halts Abusive Home-builder Practrices (read further)
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I provide full service mortgage lending services for the Arizona and California Markets. Arizona BK-0910380, CA-DRE-01889021 My City Lender NMLS#161428, Gary Miljour Loan Originator NMLS#207208
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