OK the core of this info comes from the mighty Neil Garfield’s blog site. It’s an excellent example of how the money flows and is a MUST READ for those confused or unsure of how the banks have been able to steal money. Power through the bond example first and this will make [...]
FHA pumps up the commission for brokers
January 3, 2010 By Leave a Comment
The US Department of Housing and Urban Development (HUD) removed the 1% origination fee cap on loans insured by the Federal Housing Agency (FHA), according a mortgagee letter sent out this week. HUD made the change to remain consistent with the Real Estate Settlement Procedures Act (RESPA), which will require mortgage lenders to disclose to borrowers [...]
Yield Spread Madness
October 29, 2009 By 3 Comments
Yield Spread Premium means the worse the loan is for you the better it is for the mortgage broker.
