Can a licensee take any upfront fees, including third party fees, to perform a loan modification?

 

No, the licensee cannot accept an upfront fee for any purpose by whatever name called.  Section 494.00296(1)(c), F.S. states, “When offering or providing loan modification services, a mortgage broker, mortgage brokerage business, mortgage lender, or correspondent mortgage lender licensed, or required to be licensed, under ss. 494.001-494.0077 may not solicit, charge, receive, or attempt to collect or secure payment, directly or indirectly, for loan modification services before completing or performing all services included in the agreement for loan modification services.”