Talk:Yield spread premium
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In my opinion, items 1-3 are partisan and reflect the positions of non-upfront mortgage brokers. The article, as such, is biased in favor of mortgage brokers.
Item #4 (Upfront Mortgage Brokers) is needed to recreate balance.
This page is like an ad for so called Up Front Mortgage Brokers (links and all). References need to be eliminated or trimmed.
This page is very biased to mortgage brokers. YSP is how mortgage brokers line their pockets at the expense of their customers. This was clearly written by a broker.
The Upfront Mortgage broker thing is an advertisement with links and all. This is a joke!
So how does someone get aroung the YSP or even Brokerage fees?
Nothing is free. No closing costs loans are done by the broker increasing the rate to a point where the YSP covers all the costs (including broker fees). Brokers need to make a living too. YSP is generally disclosed on the HUD...keep an eye out.
Conventional Mortgage Brokers don't want people to know about UMBs. Anybody who is considering buying a loan, however, needs to understand that not all mortgage brokers are conventional brokers. Some are not.
