Kick backs, hidden cost, back points, HUD (Housing and Urban
Development) calls it 'Yield Spread Premium' (YSP), money paid
by the a lender to mortgage brokers outside of closing. Money
paid by the lender to the broker because you got a higher
mortgage interest rate. Mortgage brokers are suppose to show
this on line 801 of their 'Good Faith Estimate' and escrow will
show it on the estimated and final closing statements (HUD-1)
when closing a loan for a mortgage broker. You'll never see
these 'po...
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July 2nd, 2009



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