Close

See current mortgage rates on Zillow Mortgage Marketplace

Profile picture for reff55

Yield Spread Premium + Loan Fee

How can the broker charge both of these on a refinance 7 year arm?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 20 2011 - Redmond
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (3)

"As of April we can no longer keep the YSP and it must be credited back to the buyer/owner."

Correction Jerry, as of January 1, 2010 you can no longer keep YSP and it must be credited to the borrower. This law was already in effect prior to April 2011. This is an important distinction that should be made clear to the public.

Also, there is no line #802 on a good faith estimate.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 20 2011
Yield Spread Premium should not be a charge.  If it's a charge, it's called "discount points."
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 20 2011
You should look on line 802 of the Good Faith Estimate and make sure that the YSP is not a credit.  As of April we can no longer keep the YSP and it must be credited back to the buyer/owner.  The only way to charge both would be if you are buying down the rate.  I hope this helps. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 20 2011
 
Related Questions
Refi FHA to Convention Jumbo on 90 LTV?
Profile picture for Kary L. Krismer
Latest answer by Kary L. Krismer
February 09 | 15 answers
What can I do to get more (or better) quotes for my loan request ZR-BLHZBRG
Profile picture for Augustus Bukowski
Latest answer by Augustus Bukowski
July 02 2012 | 6 answers
  • Asked by collection barbie
  • In Refinance
  • December 06 2011
Did my recent refinancing affect my zestimate?
Profile picture for Augustus Bukowski
Latest answer by Augustus Bukowski
June 30 2012 | 4 answers
  • Asked by jdrunbike
  • In Refinance
  • February 07 2012
Comperables in apprisal report
Profile picture for Augustus Bukowski
Latest answer by Augustus Bukowski
June 29 2012 | 9 answers
  • Asked by burton1234
  • In Refinance
  • April 16 2012
Yield Spread Premium + Loan Fee
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 9020 132nd Ave NE, Redmond, WA Home For Sale
    9020 132nd Ave NE, Redmond, WA 98052

     For Sale: $774,500

    • Beds: 4
    • Sqft: 2800
    • Baths: 3.0
    • Lot: 17896
  2. 23020 NE 28th St, Sammamish, WA Home For Sale
    23020 NE 28th St, Sammamish, WA 98074

     For Sale: $375,000

    • Beds: 3
    • Sqft: 1640
    • Baths: 2.5
    • Lot: 10890
  3. 1851 230th Ave NE, Sammamish, WA Home For Sale
    1851 230th Ave NE, Sammamish, WA 98074

     For Sale: $680,000

    • Beds: 4
    • Sqft: 2420
    • Baths: 2.5
    • Lot: 9801