| seems to care. If it passes as written, and it is out of committee and to be voted on by the House on Tuesday (I believe) it will make it unprofitable for Mortgage Brokers to originate loans by eliminating YSP. It is being pused by the Banking Industry who have wanted Mortgage Brokerous out of the way for a while. The Banks forced Mortgage Brokers to Disclose YSP while the same charge y the banks under a different name is allowed and doesn't even have to disclosed on the HUD. If YSP is eliminated then federally chartered banks will be the only ones to originate loans and the NSA will be history along with the Mortgage Broker. Laura Vestanen asked the question earlier this week I responded and no one else seemed to care. |
