Payments to brokers don't always involve 'steering'
Part 1 of 2: Let borrowers control yield spread premiums
By Jack Guttentag, Monday, December 3, 2007.(This is Part 1 of a two-part series.)
The Mortgage Reform and Anti-Predatory Lending Act of 2007 (HR 3915) is now winding its way through Congress. According to the bill's sponsor, Rep. Barney Frank, D-Mass, one of its important objectives is to prevent mortgage brokers from steering borrowers into higher-cost loans.
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Copyright 2007 Jack Guttentag
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