Date Published: July 2008
Yes. As long as the counselor or their family (or other members of the agency or their families) are not receiving a fee or other compensation for the referral, they may refer a client to a particular lender. If there is any relationship between the counseling agency and the lender, the nature of that relationship must be disclosed to the client. In addition, the counselor must provide a disclosure that clearly states that the client is under no obligation to use that lender or loan product, and that the housing counseling services that they are receiving are not contingent upon using a particular loan product or service. In addition, the counselor must provide information about other relevant alternative lenders or loan products.