W. Va. Code R. § 106-5-14

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 106-5-14 - Payments to Unrelated Third Parties

14.1. Pursuant to W. Va. Code § 31-17-8(m)(4), only payments of closing costs to unrelated third parties may not be included in the overall cap on fees, compensation, yield spread premium or points that a borrower is required to pay a licensee.

14.2. In order to qualify as an "unrelated third party" the individual or entity providing services may not be an "affiliated business arrangement" as that term is defined by the Real Estate Settlement Procedures Act, 12 U.S.C. §2602, and attendant regulations.