RESPA requires that a borrower receive information regarding closing costs, to include fees, costs, expenses, and points to be incurred. Which of the following best describes how points are applied in the financial services industry:
a. it is a percentage of the selling price.
b. it is loan origination fees.
c. it is loan origination fees and discounts to adjust investor yields.
d. points represent exclusively broker profits.
Answer: c. it is loan origination fees and discounts to adjust investor yields.
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