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Volume 2010 - Number 17

August 20, 2010

Fed Issues Wide-Ranging Ban on YSPs

The Fed issued a final rule this week prohibiting yield-spread premiums – a loan originator compensation method that consumer advocates claim helped fuel subprime lending. The ban applies to most mortgages, higher-priced or otherwise. The final rule implements provisions in the Truth in Lending Act and Home Ownership and Equity Protection Act and applies to...

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