Does my Realtor get a Referral Fee from my Lender?
In other words, your Realtor has probably asked you if you’re preapproved before going out looking at homes and has said, “If you haven’t spoken with a lender yet, I’d be glad to refer one to you.”
Hush. Calm your crazy, paranoid, beating heart. Realtors and lenders are expressly disallowed by RESPA from giving referral fees or gifts to one another for business. Chances are, your Realtor has worked with this lender before and just wants a smooth transaction - isn’t that what you want? - and / or genuinely wants to help you get the best interest rate and terms.
