Answer:
The YSP is to be disclosed on both the GFE, and the HUD Settlement Statement.
First published on BankersOnline.com 02/27/06
Disclosing Referral Arrangement on the HUD-1 Form
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Question:
We are looking into setting up a referral arrangement, with a local mortgage company, on referring residential mortgages for a piece of the yield spread. Does this need to be a disclosure on the HUD-1 form? Or is there another way to handle this?
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