Comments on: An open letter to Yield Spread Premium ( YSP ) haters. You don't "qualify" for an interest rate. http://lenderama.com/2008/03/24/an-open-letter-to-yield-spread-premium-ysp-haters-you-dont-qualify-for-an-interest-rate/ The Original Mortgage Blog. Providing the Mortgage Industry with News and Information Since 2005. Fri, 19 Mar 2010 20:00:23 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: whitebreadrefi http://lenderama.com/2008/03/24/an-open-letter-to-yield-spread-premium-ysp-haters-you-dont-qualify-for-an-interest-rate/comment-page-1/#comment-2016 whitebreadrefi Tue, 08 Dec 2009 15:18:10 +0000 http://blog.mariah.com/2008/03/an-open-letter-to-yield-spread-premium-ysp-haters-you-dont-qualify-for-an-interest-rate/#comment-2016 YSP is not irrelevant, it is in fact integral to the offer to the consumer, for example the broker could offer up <br><br> 5.125% for a 45-day lock and the broker is earning 2% <br><br>Isn't it a better deal to the consumer to have 5.0% for a 30 day lock, same YSP?!<br><br>If you throw in paying some closing costs on the first offer than its sweeter...YSP will help in determining the length of the lock and the rate, so the consumer can benefit from knowing the yield from jump street, you follow?<br><br>I am speaking from experience. If I knew the yield before going on, then I'd rather have 5% for 30 days or have some closing costs pitched if I am paying another 1/8. I feel gyped. If you can soften the blow, write on! YSP is not irrelevant, it is in fact integral to the offer to the consumer, for example the broker could offer up

5.125% for a 45-day lock and the broker is earning 2%

Isn't it a better deal to the consumer to have 5.0% for a 30 day lock, same YSP?!

If you throw in paying some closing costs on the first offer than its sweeter…YSP will help in determining the length of the lock and the rate, so the consumer can benefit from knowing the yield from jump street, you follow?

I am speaking from experience. If I knew the yield before going on, then I'd rather have 5% for 30 days or have some closing costs pitched if I am paying another 1/8. I feel gyped. If you can soften the blow, write on!

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