Robert McLister·Mortgage Tips & Advice·July 27, 2009Vendor Rebates Must Be Disclosed If you buy a home and the seller (or developer) rebates you money back on closing, you must disclose this to your lender. If you don’t, it can be considered mortgage fraud. It doesn’t matter if the seller calls it a “rebate,” “renovation credit,” “loan to purchaser” or whatever. Moreover, you can’t always expect to hide behind lawyer-client privilege to keep the lender from finding out about it. Here’s an interesting story by Move Smartly that discusses the issue further: Buying Inducements Must Be Disclosed Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.