To: NAR
Ask Realtors To Return Kickbacks From Predatory Lending
Members of the National Association of Realtors used Yield Spread Premium to receive kickbacks from lenders. Ask Realtors to return the kickbacks they collected on predatory loans.
The financial benefit of YSP belongs to the client...
You can find Yield Spread Premium on the settlement statement in your mortgage documents. It will be listed as P.O.C. or paid "outside of closing." This shows the dollar amount of the kickback your broker received for inflating your interest rate.
Why is this important?
Adding Yield Spread Premium will cost thousands of extra dollars over the life of your loan. Please support this petition with your signature.