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Loan Modification

: The Truth About Mortgage.com

Yield Spread Premiums Banned

By scot184

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The Federal Reserve issued a final rule today that effectively bans yield spread premiums paid to mortgage brokers, along with loan officers employed by depository institutions. These loan originators will no longer be able to bump interest rates higher or steer consumers toward certain loan products in exchange for a higher commission. This was a problem prior [...]

Full post as published by The Truth About Mortgage.com on August 16, 2010 (boomark / email).

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