5 Del. Admin. Code § 2203-2.0

Current through Register Vol. 28, No. 4, October 1, 2024

Section 2203-2.0 - Licensee Compensation

2.1 A licensee may receive any form of compensation that is allowed under 5 Del.C. Ch. 22 and not prohibited by any applicable federal statute or regulation.

2.2 Compensation cannot exceed any maximum allowed by any applicable State or federal statute or regulation.

2.3 Charges for fees paid to a third-party cannot exceed the amount paid to that party for the particular service provided.

2.4 All forms of compensation that a licensee receives from a customer must be specified in the licensee's agreement with that customer for a licensee to receive payment.

2.5 A licensee may not receive any compensation for mortgage loan modification services as defined in 5 Del.C. § 2245 prior to the execution of a written contract that describes in detail all such services that the licensee will perform and all compensation that the licensee will receive for those services. Any compensation that a licensee receives in advance of the completion of all such services may not exceed $250, and a licensee's total compensation for such services must be limited to an amount that is customary and reasonable for those services in this State.

5 Del. Admin. Code § 2203-2.0

17 DE Reg. 994 (4/1/2014) (Final)