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HUD and Yield Spread Premiums
October 3, 2001 The recent decision of the US 11th Circuit Court of Appeals in the case of Culpepper vs Irwin has suddenly swung the spotlight on HUD policy regarding yield spread premiums (YSPs) retained by mortgage brokers.  To this date, HUD has been impotent in dealing ... more...

HUD's Proposals For Reform
October 19, 2002 On July 29, 2002, HUD released a set of proposals to substantially change the ways in which home loans are originated in the US.  As usual, the proposals were open for comment, and many thousands of them were received.  Mine was among them, and is shown ... more...

il respa compensation rules related definitions

RESPA
Real Estate Settlement Procedure Act (RESPA) A federal law passed in 1974 that requires lenders to provide home mortgage borrowers in advance with information of known or estimated settlement costs. RESPA also limits the amount lenders may require to be held in escrow for ... more...

Good Faith Estimate, GFE
Good Faith Estimate (GFE) A disclosure of estimated settlement costs. Lenders or brokers must provide this list to the loan applicant for a mortgage loan within 3 business days after receipt of the application. The GFE is intended to assure that consumers have adequate ... more...

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Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

How to Deal With A Death in the Family and Still Run Your Small Business
As a small business owner we have to deal with tax law changes, local ordinances, environmental laws, Workers Compensation, etc. Just when we thought we had everything under control, something terrible happenes. A death in the family. Oh my God you say? What do I do now? Well since I have been ... more...

Interviewing Overqualified Applicants
A manager of a small business recently posted a job opening for a mostly clerical type job. A degree is not required and generally neither is judgment. She also put the level of compensation clearly on the job posting and worked very hard to not over exaggerate the importance of the position.The ... more...

Should You Get Baby Shower Game Ideas for Free?
There are quite a few baby shower game ideas for free online. Low priced games on pre-printed forms are also available and make it easier for your guests to understand the rules of the game and what is expected of each player. You no longer have to tear pieces of paper out of a spiral notebook at ... more...

Legislators Ponder New Credit Protection Laws
Legislators in Washington, D.C. are considering several credit-related consumer protections as outlined in The Fair and Accurate Credit Transaction Act of 2003 (H.R. 2622). If approved, consumers could benefit from the most wide-ranging changes to the rules covering consumers and credit in decades ... more...

Reverse Mortgages More Favorable in '06
Senior homeowners can obtain a more generous reverse mortgage loan in 2006 than ever before meaning they can convert a greater portion of the equity in their homes into tax-free income using one of these special mortgage plans. The new rules affect the federally insured Home Equity Conversion ... more...

Malpractice - In Sweden
Malpractice. That is a really bad thing for the person having to live with the result of if. Denis is a victim of this and is suffering for life. The following took place in Sweden and that makes it even worse, since they dont have any compensation to speak of. Its no more than pocket money, ... more...

House Flipping Basics
Many people are dreaming about making money in real estate. For most people this will forever stay a dream, but some individuals are able to make their dreams come true. Fact is even the less experienced individual can make money in real estate if following some basic rules. One way to make good ... more...

How to Improve Your Credit Score
In todays world having good credit is an absolute must. Credit is no longer for simply buying items today and paying for them later. Now, credit is used to validate who you are as a person and your worth. Credit scores are utilized daily in life. By following some simple rules, you can keep your ... more...

15 Ways To Lower Your Car Insurance
1.Shop aroundThe difference in price between various companies can be significant. What one company may consider a high risk factor another company may not view as so important. Insurance companies arrive at a price for your Car Insuranceby adding or discounting money after each answer you give to ... more...

What If Loans And Credit Were Based On Your Integrity?
You know it was not that long ago when business schools advised students going into business to develop a business relationship with your local banker. In fact the Small Business Administration recommended this tact in all their literature. Then came the big bank mergers and your business ... more...

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