How To Read Mortgage Rate Sheet
How to Read a Mortgage Rate Sheet. Loan originators are paid a fee by the investor for selling a higher than wholesale interest rate. This fee is in addition to any loan origination points charged on a mortgage. Rates higher than the "par" or wholesale rate pay the originator a fee called yield spread premium, or YSP.
A rate sheet is a document that your loan officer uses to quote a price on a mortgage. Typically, your loan officer may have several rate sheets to work from, one from each of the major loan.
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How to Read a Mortgage Rate Sheet Rates and YSPs. Most rate sheets contain a listing of note rates and a table. Lock Periods. Loan pricing is typically dependent on the lock period. Adjustments. The rates on the top of a rate sheet are generic. No Closing Cost Loans. The yield spread premium.
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Rate sheet read mortgage – Commercialloansalliance – How to Read a Mortgage Rate Sheet – Budgeting Money – If you want to know what a mortgage really costs and where the money is going, you’ll need to review the actual rate sheet. wholesale lenders produce rate sheets that show the details of the way the rates for their mortgage.
The three most common lock-in periods are 15, 30 and 60 days. The longer you lock the rate for, the less YSP will be paid. The mortgage company usually will show these lock terms on the rate sheet. Add or subtract the adjustments to the pricing that shows in the grid of your interest rate and lock term.
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