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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 Free respa compensation il Quotes and Estimates

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...

Bad Credit Home Financing - Choosing a Subprime Mortgage Lender
In the early nineties subprime mortgages accounted for about five percent of all mortgages. Today the subprime mortgage loan sector comprises more than twenty percent of the mortgage market. With this explosion of subprime mortgage lenders and brokers, it is important to know what to look for when ... more...

Benefits of Unsecured Business Loans
Secured business loans, used as a source of business capital, are disadvantageous not only because they can lead to repossession of asset if repayments are not made. Secured business loans come with many restrictions imposed by the loan provider. The loan provider, for instance, will insist on a ... more...

Insatiable Greed is Morally Bankrupting Us
A strange phenomenon seems to be sweeping the western world. Economic rationalization and corporate greed are now paramount in the minds of governments and Chief Executive Officers (CEOs) everywhere. The almighty dollar has become king and everything else has been relegated to virtual pawn status ... more...

Internet Marketing: The "Simple" Part
Researching home based business opportunities on the internet?Fasten your safety belt and stock up on the Dramaminebetter yet get a helmet and a NASCAR crash suit too, because its a wild ride and youre likely to spin out or hit the wall more than once. In the world of Too Good to be True, online ... more...

40-Year Mortgages: An Alternative to Interest-only Loans?
Interest-only loans are quickly becoming a mainstream loan product. Borrowers who were initially turned-off by the perceived risk associated with an interest-only loan are now starting to see the benefits: Lower payments, less money tied up in equity, more flexibility, etc.For the savvy borrower, ... more...

What Is Meant By Automobile Insurance Standard Coverage?
Automobile insurance standard coverage is the basic amount of insurance coverage that is required by law in order for an individual to legally operate a motorized vehicle. You can simply it even further with the blanket statement as being the mandatory amount of auto insurance coverage a driver ... more...

Mortgage Terminology for the First Time Home Buyer
Buying a Home for the first time can be a little nerve racking. Mortgage terminology that brokers use everyday can leave you scratching your head or shaking your head pretending that you know what theyre talking about. Here are some mortgage terms and definitions that youll be hearing when shopping ... more...

How To Avoid Getting Scammed
Listed below are some of the most popular and common scams:1. Nigerian Letter Scam:This one's been around for many years but continues to flourish. Many of these e-mails claim to be from a person in Africa, usually Nigeria. The writer claims to have access to millions of dollars, either from a ... more...

MLM Opportunities: The Top 7 Things You Need to Look for and Ask About in an MLM Company
So, you have decided to jump into the Network Marketing Industry, and join a reputable company. Great Move! It will open up doors in your life that you never knew existed, and the personal development you will experience will be amazing.But you may be thinking- what do I look for? What should I be ... more...

UK Guide To Secured Loans Get Easy Access To Secured Loans
Needs can crop up on anyone any time. It is paramount that we should handle them and handle them with due care. A need could be an emotional one or it could be a financial one. We can solve our other problems but where the finances are concerned sometimes it is difficult for us to deal with the ... more...

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