Rapid Re-score Cost: When you choose a different lender

QuestionsRapid Re-score Cost: When you choose a different lender
dealpal Staff asked 3 years ago

I have found all sorts of information online saying that lenders/mortgage brokers who offer rapid re-score are not allowed to pass on the cost of the re-score to the borrower/consumer. However, it is unclear whether all of these sources assume that a borrower ends up getting a loan from the same lender/mortgage broker who offered the re-score (in which case the lender/MB would be somewhat compensated). 

 

My question is: if I was working with a mortgage broker (with no obligation to do a loan through him) and he provided the rapid re-score service, and I ultimately decided to go with another lender, can the mortgage broker invoice me for the rapid re-score? Or is this still covered by the FCRA?

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