Loan Broker Fees, Can I give them a gift in exhchange for faster service?

What is the name of your state? California

I have loan pending with a loan broker and I only have 21 days to be sure that the loan will fund. (Inspeciton period) It has already been 13 days and the broker has not set up an appraisal yet. I am worried that he is too busy to give me the attentioon I need. I also want to hury this thing up so my family can use our new cabin this summer.

Can I offer him a financial incentive to expidite my loan. I was thinking of offering him $25.00 for every day the loan funds prior to the close of escrow. He could potentially make $1175.00 if he funded the loan today.

Would this be legal, ethical? It would be money out of ecsrow and would be considered a tip or gift for good service.

Thanks for your reply.

[HomeGuru]

Originally posted by esaleplus
What is the name of your state? California

I have loan pending with a loan broker and I only have 21 days to be sure that the loan will fund. (Inspeciton period) It has already been 13 days and the broker has not set up an appraisal yet. I am worried that he is too busy to give me the attentioon I need. I also want to hury this thing up so my family can use our new cabin this summer.

Can I offer him a financial incentive to expidite my loan. I was thinking of offering him $25.00 for every day the loan funds prior to the close of escrow. He could potentially make $1175.00 if he funded the loan today.

Would this be legal, ethical? It would be money out of ecsrow and would be considered a tip or gift for good service.

Thanks for your reply.

**A: your question should be posed to the broker and the state consumer protection office.