For over five years Americas Watchdog's National Mortgage Complaint Center have been attacking a gigantic mortgage kickback scheme called a yield spread premium. What is a yield spread premium? "A yield spread premium is a mortgage kickback fee a bank, mortgage banker or mortgage broker gets for inflating a borrowers interest rate. Banks & mortgage bankers get the very same kickbac, they just don't have to disclose it-brokers do. Why is this timely? Millions of Americans are losing their hoomes because of mortgage products that were built around the yield spread premium. The National Mortgage Complaint Center's Web site is located at Http://NationalMortgageComplaintCenter.Com. (PRWeb Apr 6, 2009)
Read the full story at http://www.prweb.com/releases/2009/04/prweb2299404.htm
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[Source: PRWeb: Home and Family Banking / Personal Finance]
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