Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#89833 - 06/19/03 07:20 PM High Cost Fees
Anonymous
Unregistered

Are yield spread premiums included in the points and fees calculation trigger for high cost home loans?

Return to Top
#89834 - 07/09/03 07:08 PM Re: High Cost Fees
Anonymous
Unregistered

According to the revised part 41, "All broker compensation is included within points and fees." In definitions (pulled up today) section 41.1 points and fees means ". . .iii all compensation paid directly or indirectly to a mortgage broker not otherwise included paragraphs i and ii (basically TiL and Reg Z definitions of FC). Information is at www.banking.state.ny.us/41amd.htm Good luck - the penalties are onerous too.

Return to Top