Home | Ask Your Question | Mortgage Glossary |Free Credit Report | Mortgage Calculator |
|
|||||||||||||||||||||||
Mortgage Professor about respa compensation il: | |||||||||||||||||||||||
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... |
|||||||||||||||||||||||
More about respa compensation il Tips for First Time Home Buyers Discover What to do When Your Credit Worth is Damaged Due to Circumstances Out of Your Control Clueless About Network Marketing? Mortgage Loans Partner Up What 80% of Businesses Dont Know: Tips for Improving Your Working Capital Management Greed Can Cost You Your Shirt! Behold: The Prince of Persia. . . the War in Iran has begun! Strategic Acquisition Strategies for Small Businesses Philosophical Thoughts of a Road Warrior; Part I
|
|
||||||||||||||||||||||
|