Zillow Advice: Mortgage - Is amortgage lender required by law to charge every borrower the equivalent discount point rate? http://www.zillow.com/advice-thread/Is-amortgage-lender-required-by-law-to-charge-every-borrower-the-equivalent-discount-point-rate/443963/ Zillow Advice | Zillow Real Estate I'm not aware of any laws ... http://www.zillow.com/advice-thread/Is-amortgage-lender-required-by-law-to-charge-every-borrower-the-equivalent-discount-point-rate/443963/ I'm not aware of any laws that govern lenders setting equal terms for loan applicants.&nbsp;&nbsp;&nbsp; There are compensation laws for mortgage brokers that pertain to their agreements with lenders they work with. Wed, 23 May 2012 16:47:00 GMT http://www.zillow.com/advice-thread/Is-amortgage-lender-required-by-law-to-charge-every-borrower-the-equivalent-discount-point-rate/443963/ 2012-05-23T16:47:00Z Comp reform requires that ... http://www.zillow.com/advice-thread/Is-amortgage-lender-required-by-law-to-charge-every-borrower-the-equivalent-discount-point-rate/443963/ Comp reform requires that lenders set a margin for each licensed branch and that they make the the same margin on each loan. The law allows for a min. and max fee for very small loans or very large loans and also allows borrower paid compensation or lender paid. Sierra Pacific only allows lender paid compensation but some lenders allow only borrower paid, the idea is that consumers all receive the same deal based on the loan type, loan term and credit scores. Mon, 28 May 2012 17:50:00 GMT http://www.zillow.com/advice-thread/Is-amortgage-lender-required-by-law-to-charge-every-borrower-the-equivalent-discount-point-rate/443963/ 2012-05-28T17:50:00Z I'm not aware of any laws ... http://www.zillow.com/advice-thread/Is-amortgage-lender-required-by-law-to-charge-every-borrower-the-equivalent-discount-point-rate/443963/ I'm not aware of any laws that govern lenders setting equal terms for loan applicants.&nbsp;<br/>====================<br/>to expand on that.... &nbsp;as long as the term set isn't due to anything that violates the Fair Housing Act or ECOA. (race, etc) Wed, 23 May 2012 16:58:00 GMT http://www.zillow.com/advice-thread/Is-amortgage-lender-required-by-law-to-charge-every-borrower-the-equivalent-discount-point-rate/443963/ 2012-05-23T16:58:00Z Very helpful, Dave. &nbsp;Larry, ... http://www.zillow.com/advice-thread/Is-amortgage-lender-required-by-law-to-charge-every-borrower-the-equivalent-discount-point-rate/443963/ Very helpful, Dave. &nbsp;<br/><br/>Larry, are you talking about an origination fee or a discount point to buy down the rate? &nbsp;The origination point or fee is income to the broker or lender. &nbsp;The discount point directly benefits you with a rate buydown and is not income to the lender or a broker. &nbsp;It is a cost of the interest rate. &nbsp; Wed, 23 May 2012 15:58:00 GMT http://www.zillow.com/advice-thread/Is-amortgage-lender-required-by-law-to-charge-every-borrower-the-equivalent-discount-point-rate/443963/ 2012-05-23T15:58:00Z no http://www.zillow.com/advice-thread/Is-amortgage-lender-required-by-law-to-charge-every-borrower-the-equivalent-discount-point-rate/443963/ no Wed, 23 May 2012 15:46:00 GMT http://www.zillow.com/advice-thread/Is-amortgage-lender-required-by-law-to-charge-every-borrower-the-equivalent-discount-point-rate/443963/ 2012-05-23T15:46:00Z