Real estate blog entries tagged with ysp by Jeff Corbett (ActiveRain)

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ysp: H.R. 3915 Big Business Greed or Mortgage Broker Ignorance? - 11/09/07 04:14 PM

Let me clearly state that I’m not a proponent of this Bill at all, for a number of reasons, most specifically:
No amount of legislation from the folks in Ivory Towers is going to ‘fix the mortgage problem’.
Mortgage law MUST transcend and apply to both brokers and bankers, otherwise it’s … (26 comments)

ysp: APR- The Annual Percentage Runaround - 05/04/07 01:59 PM

OK, I went to college, took algebra, geometry, trigonometry, calculus, statistics, and passed them all. Math wasn’t a problem for me (history and literature were), alas, I’m pretty baffled at how broker/bankers, and lenders come up with a mortgages Annual Percentage Rate (APR).

This is a problem because APR is … (7 comments)

ysp: Why Does The Mortgage Industry Cross the Line? - 05/04/07 01:56 PM

Because it can.

The number one statement that I get via comments and emails from others in the mortgage industry (paraphrased):

"It’s nobody’s business what I make, Wal-Mart etc. doesn’t have to show their mark-ups, why should I??"
What a telling statement, as it confirms the general … (11 comments)

ysp: The Morgage Industry’s Internal Civil War - 11/09/06 03:28 PM

YSP’s have gradually made their way into the American homeowners conscious, rising from relative obscurity. While this is progress, their use in relation to their intent is still misunderstood, manipulated, and maligned. Although more consumers are now aware that YSP’s are cash rebates Lenders pay for a borrower to accept … (146 comments)

ysp: Lost Another Bone to DiTech? - 10/31/06 03:38 PM

The chart shows the exact same loan for the same borrower "priced" two different ways: The broker/banker's way, and Transparently, with a pre-negotiated fixed cost for services utilizing wholesale, par rate pricing.
DiTech™ was arbitrarily chosen for this comparison, but it could have been any other retail lender, since they don't have … (15 comments)

ysp: Pre-Payment Penalty Ponderings - 10/28/06 04:08 PM

Pre-Payment Penalties (PPP) are often used as a tool by mortgage broker/bankers to increase the amount of YSP a Lender will allow them to charge. The theory behind this is that Lenders don’t mind paying larger amounts of YSP if they can guarantee a recoup of some of the cost … (0 comments)

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