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Fed’s New Mortgage Rules = No Protection

The new mortgage rules touted by Fed Chairman Bernanke are devoid of any real protection from bad mortgage originators since they conveniently skipped regulating yield spread premiums. The new rules apply to all mortgage lenders and therein lies the rub. If the Fed wanted to reign in mortgage broker yield spread premiums they’d also have […]

Online Resources On Yield Spread Premium

I have compiled a few resources on average mortgage rate data and yield spread premium starting with Congressional testimony from experts and ending with average mortgage rate resources online. Be sure to read the Harvard Professor Jackson’s testimony if nothing else…. Harvard Professor’s Conclusions on YSP Mr. Olson’s Senate Testimony More Average Mortgage Rate Survey […]

Negotiate Away Your Yield Spread Premium

Eliminating yield spread premium starts by avoiding banks like the plague. Bank mortgage rates will always include their version of YSP (called SRP) since they have no legal duty to disclose it. (In the banking world YSP is called service release premiums or SRP. This “different” classification was the legal technicality or loophole the industry […]

Why Is Loan YSP Such a Well-Kept Secret?

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 would […]

The Only Way To Locate YSP Before Closing

The HUD 1 settlement statement is the only place to locate the exact amount of yield spread premium you were charged. Of course, by then it is probably too late! Other non settlement statement mortgage disclosures specifically the Good Faith Estimate (the mortgage application disclosure) are useless for discovering yield spread premium overcharging since most […]

Yield Spread Premium: Mortgage Industry’s Dirtiest Secret

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. Numbers from the government 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 […]

Mortgage Book Steals My Thunder

I found a Real Estate agent turned mortgage book author who wrote a book titled Theft By Mortgage. Boy was I shocked to learn his mortgage book warns about yield spread premium! Calling yield spread premium overcharging “theft” is a little harsh, but given the venom I’ve used to describe YSP in my writings, I’ll […]