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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...

respa compensation il 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...

Tips for First Time Home Buyers
When looking at tips for first time home buyers, you've come to the right place. Many people are looking all over the Internet for reliable information. There's over 761,940 websites (as of March 05) with information or online forms urging you to fill them out for more details.While I certainly ... more...

Discover What to do When Your Credit Worth is Damaged Due to Circumstances Out of Your Control
First of all, lets examine exactly what credit worth means and how it affects your financial life.Your credit worth, as defined by the financial industry, is the overall picture of your financial health that is used by lenders to determine your ability to repay debt. By looking at a combination of ... more...

Clueless About Network Marketing?
A year ago, I began reading about real estate and residual income. My desire to become an entrepreneur was born. As I read, the term network marketing and its synonym multi-level marketing (MLM) kept popping up. The authors of these buzz words didn't bother explaining or defining them. They assumed ... more...

Mortgage Loans
A mortgage is a device used to create a lien on real estate by contract. The mortgage is an instrument that the borrower (called the mortgagor) uses to pledge real property to the lender (called the mortgagee) as security for a debt, also called hypothecation. The mortgage, as a rule, consists of ... more...

Partner Up
Once upon a time, large multi - generational families accumulated property and capital so that all family members enjoyed both economic and social security. Though there is much political talk about family values, large families working for the common good are a thing of the past and perhaps a ... more...

What 80% of Businesses Dont Know: Tips for Improving Your Working Capital Management
What is the number one way to prevent failure in business? Take a minute to really think about your answer. What comes to mind? Increasing patients or customers served? Effective marketing? Location, location, location? Improving patient or customer care? Being the best in your industry ... more...

Greed Can Cost You Your Shirt!
The proper action when things are going well is to pay off debt and consolidate your position. Then you will be financially strong and can go for further expansion without fear of loosing what gains you already have. When you are not deep in debt you do not have to worry about your creditors ... more...

Behold: The Prince of Persia. . . the War in Iran has begun!
DJ VU (Where have I heard this before?)(Note: May I warn you from the outset . . . this treatise may commence with the levitas of “secular” indiscretions, comments and analysis . . . but it will culminate with relevant theological gravitas . . . bear with me; and, oddly enough, the ... more...

Strategic Acquisition Strategies for Small Businesses
Growth through acquisition should not be considered an option reserved solely for large or Public Companies. Small and mid-size businesses that opt to grow by acquiring other companies, rather than growing one new customer at a time, can gain benefits in addition to increased sales and profits ... more...

Philosophical Thoughts of a Road Warrior; Part I
With a tip of the hat to Virginia Woolf, William Faulkner and Dennis Miller; as I drove from Katy TX to the West side of Houston, I watched through the side-windshield of the Mobile Command Center traveling at 75 mph the freeway at the lines going by me in the rear view mirror and reflecting on ... more...

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