Getting Paid for a Third-Party Guarantee

[Guillam Landrum]

I'm wondering if it's legal to compensate someone in return for their acting as a third-party guarantor on a home loan.  I've heard about such arrangements with corporations and commercial real estate deals, but third-party guarantees on home loans are usually provided by parents, so the compensation issue doesn't often get addressed.  

Guarantees obviously provide immense value to a borrower who wouldn't otherwise qualify for a home loan, so it seems to me the guarantor ought to be paid.  

I'd be curious to know if anyone has come across this scenario, and/or what the guidelines might be. 

Thanks in advance for any thoughts on this!

G