The Paulson pushed GSE reform bill known as the Housing Economic Recovery Act of 2008 (H.R. 3221) which earlier this week passed the House has now passed the Senate becoming law with the President’s signature which he already pledged to give by the end of July. I first read about the Senate passage in [...]

Here’s the question:
“The mortgage broker I am currently working with says that he can only get a 15 Lock and it can be extended at a cost of $125 every time I extend. I am doing a HUD sales through FHA and my contract states I must close within 45 days. Shouldn’t I be able [...]

Mortgage yield spread premium is responsible for up to two thirds of the revenue earned on every mortgage. Yet most Americans have no knowledge of mortgage yield spread premium or how to avoid it.
No one in the mortgage and banking industries wants you to find out about mortgage yield spread premium because it [...]

Yield Spread Premium (YSP) is without a doubt the most misunderstood and highly profitable secret the mortgage industry has kept from the American mortgage consumer.
The government’s own number pegs the consumer cost of the yield spread premium deception at $16,000,000,000 a year
…yes that’s billion, with a “b”! My own figures put it into [...]

Secret Side Agreements For Repairs Is Mortgage Fraud!

Here’s how it happens…
Buyer contracts with Seller for a $200,000 home with the Seller paying all the closing costs which equates to 3% or $6,000….the current FNMA maximum. During the inspection, a faulty furnace is discovered. Let’s assume for this example it’s a working furnace, so it’s not [...]

No cost mortgage advertisers pound the air waves spewing this mortgage lie. The no cost mortgage is a scam requiring great salesmanship, some misdirection, and an unsophisticated client.
So I’ve been railing against the no cost or no fee mortgage advertisers for years now…both on my blog and formerly on our radio show. Calling these phony [...]