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What is the COMPENSATION FROM REBATE?Expand / Collapse
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Posted 7/21/2010 1:48:53 PM
Supreme Being

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I don't think I ever noticed this on here before. What is this field for, and what is its impact on the GFE/APR?
Post #11355
Posted 10/14/2010 7:39:22 PM
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With the new GFE, there is no more official YSP.  The rebate is a credit that actually goes back to the borrower.  In order to legally move that money to your compensation column, you need to select this box.  It will then add the YSP amount to line 1, Or Origination Charge.  If you do not do this, you will not be paid (YSP) and the entire amount will go to reducing the borrowers closing costs.

Thanks,

Tom
Post #11501
Posted 3/22/2013 9:55:47 PM
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Getting back into the business after a 3 yr absence so I have a lot of questions. Regarding compensation, I'm getting a lender paid compensation but my borrower is getting a lender credit as well. So...I put my 1% lender paid compensation in Section 1 of the fees worksheet as the Calyx Knowledge Base says to do, then in Section 2 under Credit I show Lender Credit of my 1% and in the next line Lender credit of .50% that the borrower is getting. So I believe that is correct. (The percentages do not really matter.) But my question is....Do I check the PFC boxes under BOTH Section 1 AND 2 for the charge and the 2 credits? No one seems to know. Uggg! Hate it when it takes me hours to figure out one small detail! Help!
Post #14360
Posted 4/11/2013 11:53:20 AM
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We are unable to tell you which PFC to check or not to check, we recommend you contact your Lender
Post #14393
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