Complaint by
jmb27 on January 30, 2012, 2:13 am in Real Estate
Scott Veerkamp used Yield Spread Premium to receive kickbacks from lenders. Ask Scott to return the kickbacks he collected on predatory loans.
The financial benefit of Yield Spread Premium 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.
The Center for Responsible Lending estimates excessive interest rates cost families $2.9 billion each year. Please take time to review the following information regarding Yield Spread Premium and Loan Steering...
YouTube Video: Yield Spread Premium...
http://www.youtube.com/watch?v=iPXsKygQSRc
YSP and the Center for Responsible Lending:
http://www.responsiblelending.org/mortgage-lending/research-analysis/ib-ysp-110507-final.pdf
CRL and Equity Theft:
http://www.responsiblelending.org/mortgage-lending/tools-resources/ib011-YSP_Equity_Theft-0604.pdf
Predatory Lending and the National Association of Realtors:
http://www.zimbio.com/Exposing+Scams/articles/15VN_4Q6HLA/NAR+Predatory+Lending+Information
CRL: Seven Signs of Predatory Lending
http://www.zimbio.com/Exposing+Scams/articles/AKevJQHWOKO/Center+Responsible+Lending+Seven+Signs+Predatory
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