Are "No-Cost" Mortgages Actually "Cost Free"? What's a "Yield Spread Premium"?
- Lenders agree more disclosure is needed on 'no cost' mortgages
- Debate between borrowers and lenders rages over 'no-cost' mortgage loans
- No-closing-cost refinancing will cost you one way or the other
- Lenders defend pricing on no-cost mortgages
For a story on the controversial "Yield Spread Premium", thought of by some as a type of hidden charge for a mortgage that may not show up on a closing statement, and by others as a legitimate fee when disclosed and applied properly, see Subprime crisis shines light on mortgage brokers (Class action suit against NovaStar alleges hidden fees; lender to fight back)
For a basic explanation of what the "Yield Spread Premium" is all about, see Mortgage Ails: Too Much Information?
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