Our mortgage consultant mentioned that the lender did not approve of multiple rebates we received (Seller's credit, rebate from the Mortgage Consultant). As a result, the commission rebate from the buying agent had to be removed from the settlement document. The closing procedures were completed.
What are the ways the Buying agent can give us the Commission rebate, without violating RESPA (note that the property is in suburbs of Chicago city)? If there is a way, will the rebate amount be non-taxable? If yes, what are the tax forms that we and the buying agent need to file?