Dodd-Frank Act Pronounces Yield-Spread Premium Dead
July 12, 2010
After many years of debate, the volatile issue of yield-spread premiums will finally be laid to rest by the Dodd-Frank Wall Street Reform and Consumer Protection Act, according to compliance experts.Once enacted, the new law will prohibit residential mortgage loan originators from receiving service-related fees that vary based on the terms of the loan other than the amount of the...