Tag Archives: Yield Spread Premium

The New World of Loan Officer Compensation

It’s a whole new world when it comes to loan officer compensation and the Fed Rule. But it’s time to get back to selling real estate and doing mortgages. The HUD Score Card shows that NOW is the time to buy and affordability has never been better. Get all your real estate news and mortgage [...]

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Judge Rules in Favor of Federal Reserve on Loan Officer Compensation Part 2

The Judge reviewing the lawsuit(s) filed by NAMB and NAIHP has ruled in favor of the Federal Reserve. Based on our review of the ruling it would appear that the judge never intended to rule in favor of the associations. So the Fed Rule is going forward and the consumer is going to pay the [...]

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Looking Back at 2009

The $8000 first time home buyer tax credit that didn’t have to be paid back is introduced. Foreclosures declined but short sales were on the rise. Stated income loans went away, making it difficult for self-employed income borrowers to get a new mortgage. New mortgage guidelines tightened up. Large investors (unless they are cash buyers) [...]

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Looking Forward to 2010

Good Faith Estimate (GFE) 2010 is introduced January 1, 2010.  Six items now required before the loan originator can provide you with a GFE: Name, Property address, Estimated Property Value, Loan Amount, Income, and Social Security Number (Credit Report). Fees locked for 10 business days from issuance of GFE.  Designed to protect the consumer from [...]

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What is Yield Spread Premium and Why is it Beneficial?

Today’s “Know Your Mortgage” article is going to cover Yield Spread Premium or YSP. This is becoming a hot topic in the news right now because the Federal Reserve has purposed a new rule that would make it illegal for banks to pay yield spread to any loan originator. This rule, if passed will have [...]

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