http://www.fhaloanpros.com/2008/03/hud-proposes-huge-reforms-billions-in-consumer-savings/ The Unofficial Guide to FHA Loans & Mortgages Mon, 12 May 2008 22:34:27 +0000 http://wordpress.org/?v=2.0.5 http://www.fhaloanpros.com/2008/03/hud-proposes-huge-reforms-billions-in-consumer-savings/#comment-4172 Thu, 20 Mar 2008 16:59:05 +0000 http://www.fhaloanpros.com/2008/03/hud-proposes-huge-reforms-billions-in-consumer-savings/#comment-4172 I firmly believe RESPA reform is necessary however, adding still more paper to the 60 some odd pages already in use (and unfortunately not read or understood by too many) seems counter productive. Point two, why is it no one talks about the yield spread loan officers at banks, credit unions and savings and loans receicve. This is not a payment exclusive to brokers. YSP should be disclosed by all originators. And finally Escrow Officers are neutral third parties. Having them responsible for loan cost and term evaluation definitely violates their neutrality. I firmly believe RESPA reform is necessary however, adding still more paper to the 60 some odd pages already in use (and unfortunately not read or understood by too many) seems counter productive. Point two, why is it no one talks about the yield spread loan officers at banks, credit unions and savings and loans receicve. This is not a payment exclusive to brokers. YSP should be disclosed by all originators. And finally Escrow Officers are neutral third parties. Having them responsible for loan cost and term evaluation definitely violates their neutrality.

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