Loan officers and mortgage companies don’t “waive” closing costs they “offset” them with yield spread premium. If you need a refresher on the biggest lie of all: Yield Spread Premium, click here.
traps, tricks, Mortgage Lies, No Cost Mortgages, scams, Scams, Tricks, Traps, Yield Spread Premium
Original post by rkblake
Yield spread premium (YSP) is “extra” profit slipped into virtually every loan (calculated as percentage of your loan amount) which is created only by the loan originator locking and closing your loan at a higher than market rate.
traps, tricks, Mortgage Lies, scams, Scams, Tricks, Traps, Yield Spread Premium
Original post by rkblake
More Evidence Revelas the Yield Spread Premium Lie Is Real!
So as you may know my pet peeve of the mortgage industry is Yield Spread Premium (YSP) overcharging.
What is YSP overcharging?
It is how the mortgage industry makes big ‘hidden” bucks by lying to borrowers about mortgage rates…closing 90% of all loans at rates higher than required.
traps, tricks, bait n switch, Home Buying Tips, Refinancing Tips, scams, Scams, Tricks, Traps, Yield Spread Premium
Original post by rkblake