http://www.knightlinesmtg.com/yield-spread-premium-the-hidden-fee We Make Your Dream Reality Tue, 10 Nov 2009 22:36:24 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.knightlinesmtg.com/yield-spread-premium-the-hidden-fee/comment-page-1#comment-95 personal-loans Sun, 18 Oct 2009 10:51:44 +0000 http://knightlinesmtg.com/blogs/?p=10#comment-95 Very informational post. Very clear commentary and suggested phrasing are most impressive. It feels good to see that people share their know-how ! Very informational post. Very clear commentary and suggested phrasing are most impressive. It feels good to see that people share their know-how !

]]> http://www.knightlinesmtg.com/yield-spread-premium-the-hidden-fee/comment-page-1#comment-5 Mortgage Broker or Bank - Which do you choose | Knightlines Mortgage Services, LLC Wed, 08 Apr 2009 03:03:04 +0000 http://knightlinesmtg.com/blogs/?p=10#comment-5 [...] I do need to throw out this word of advice on mortgage brokers… “BEWARE OF THE HIDDEN FEE.”  Some brokers will mark up the interest rate to get paid what is known as Yield Spread Premium (YSP).  Thanks to recent legislation, brokers are now required to disclose this fee prior to closing.  But there is a problem with this: the broker has to disclose the fee within 3 days of knowing the YSP but no less than 3 days prior to closing.  The broker knows the final YSP only after the rate has been locked.  What this means is that you may not have gotten the best rate at the time of rate lock.  To read more about this topic, click here. [...] [...] I do need to throw out this word of advice on mortgage brokers… “BEWARE OF THE HIDDEN FEE.”  Some brokers will mark up the interest rate to get paid what is known as Yield Spread Premium (YSP).  Thanks to recent legislation, brokers are now required to disclose this fee prior to closing.  But there is a problem with this: the broker has to disclose the fee within 3 days of knowing the YSP but no less than 3 days prior to closing.  The broker knows the final YSP only after the rate has been locked.  What this means is that you may not have gotten the best rate at the time of rate lock.  To read more about this topic, click here. [...]

]]> http://www.knightlinesmtg.com/yield-spread-premium-the-hidden-fee/comment-page-1#comment-4 Financing... what should I do? | Knightlines Mortgage Services, LLC Tue, 24 Feb 2009 04:48:29 +0000 http://knightlinesmtg.com/blogs/?p=10#comment-4 [...] something. If all other factors are equal, the loan with the lowest fees would be best. (The “No-Cost” mortgages you hear about are a crock. No, you aren’t paying anything up front, but to [...] [...] something. If all other factors are equal, the loan with the lowest fees would be best. (The “No-Cost” mortgages you hear about are a crock. No, you aren’t paying anything up front, but to [...]

]]> http://www.knightlinesmtg.com/yield-spread-premium-the-hidden-fee/comment-page-1#comment-3 Basic Mortgage Terms Defined | Knightlines Mortgage Services, LLC Sun, 18 Jan 2009 20:28:20 +0000 http://knightlinesmtg.com/blogs/?p=10#comment-3 [...] Good Faith Estimate (GFE): This is an estimate of the closing costs that you will be charged for your mortgage.  A properly completed GFE should include lender fees, title fees, government fees, third party fees, and the mortgage broker fee.  Also, recently required on the GFE is Yield Spread Premium. [...] [...] Good Faith Estimate (GFE): This is an estimate of the closing costs that you will be charged for your mortgage.  A properly completed GFE should include lender fees, title fees, government fees, third party fees, and the mortgage broker fee.  Also, recently required on the GFE is Yield Spread Premium. [...]

]]> http://www.knightlinesmtg.com/yield-spread-premium-the-hidden-fee/comment-page-1#comment-2 Friends and Family Discount | Knightlines Mortgage Services, LLC Sun, 27 Jul 2008 14:44:01 +0000 http://knightlinesmtg.com/blogs/?p=10#comment-2 [...] Yield Spread Premium - The Hidden Fee [...] [...] Yield Spread Premium – The Hidden Fee [...]

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