DOJ Shows Cutting Side of HUD’s 2001 Policy Statement
April 1, 2002
Just as HUD’s 2001 policy statement on broker compensation can be a boon to lenders in a yield-spread premium class action lawsuit, it also can be the industry’s bane in cases involving settlement service markups. Recently, the Department of Justice weighed in on the issue with an amicus brief reflecting the Department of Housing and Urban Development’s views on illegal markups and fee splitting.