Regarding Jeff's Comments, RESPA only applies to residential 1-4 family units on federally insured loans :RESPA in general
RESPA covers loans secured with a mortgage placed on a one-to-four family residential property. These include most purchase loans, assumptions, refinances, property improvement loans, and equity lines of credit. HUD's Office of RESPA and Interstate Land Sales is responsible for enforcing RESPA.
Excerpted from the HUD website.
That being said, as having worked as both a commercial lender before and commercial broker currently it would not be considered "commonplace" to do it and you have to check in to your state laws as UCC's sometimes prohibit those things. It usually only happens when both companies are owned by the same company or person. My personal choice is to have my lender be the best at what he does and know when he says its going to close, it closes then to receive some paltry sum just for using him. For me, not worth the price of professionalism. For more information and helpful tips, log in to listen to my radio show on Saturdays.
May 12, 2009