PUBLIC SUBMISSION | As of: November 20, 2009 Tracking No. 803fc0b1 Comments Due: May 13, 2008 |
Docket: HUD-2008-0028
FR-5180-P-01
Real Estate Settlement Procedures Act (RESPA): Proposed Rule To Simplify and Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs
Comment On: HUD-2008-0028-0001
FR-5180-P-01: Real Estate Settlement Procedures Act (RESPA): Proposed Rule To Simplify and Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs
Document: HUD-2008-0028-0009
Comment Submitted by Tiffany Taylor-Rodriguez, Platinum Funding
I'm honestly trying to understand the logic behind making it mandatory for
Mortgage Broker's to disclose YSP, but allowing big banks and lenders to charge
YSP and not have to disclose it to borrowers. Why is that? Just like licensing
laws I think these disclosures should apply to all mortgage loan originators.
Perhaps I'm missing some information, but after 17 years in the mortgage
industry, I just can't find the logic in these laws...