What is the mortgage industry average yield spread?
I am a mortgage loan originator and am setting up a marketing plan with some preferred customers. I am waiving my standard 1% origination fee and want to convince my prospects that I will not attempt to make that percent up in yeild spread. So I need some documentation that proves my usual 2% on the back is well within industry norms. Anyone know where to find this kind of info?
Asked By: petemc67 - 5/11/2006
Best Answer - Chosen by Asker
I've found that you're better off giving them the control. Tell them that as a preferred customer you will charge 2 points. They can take that as front points or ysp. They decide. The other guy is right, you won't find the documentation you're looking for... More
Answered By: Kevin B - 5/11/2006
Additional Answers (2)
the average points to either the lender or the originator are not "out there" for everyone to see. You may want to contact your state agency in charge of lending and determining RESPA guidelines to find out how much you can receive in Yield or points, but in FLA and GA where I have done wholesale loans, 2% on the back... More
Answered By: jmadams74 - 5/11/2006
I am a mortgage loan originator of many years. I do not understand why this has become a subject of discussion. When you buy your car, does the car dealer discuss his profit margin, and then proceed to negotiate it with you? When you get a contract for home improvement does your contractor discuss his profit margin... More
Answered By: FinanceMan - 5/11/2006
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