Have all yield spread premium (YSPs) payments been banned under the just passed 'Mortgage Reform and Anti-Predatory Lending Bill of 2009' (H.R. 1728)? It all depends on who you ask. Legislation can be a funny thing but brokers aren't happy with the language because it means that going forward they could have a tough time getting paid -- unless they can work out some other type of arrangement with their wholesalers that doesn't violate RESPA. If anything, brokers probably don't have much to worry about. The Senate is notorious for tying up bills forever and never passing them -- unless (of course) there's an impending "must act" crisis like the meltdown of our nation's entire financial system or a warâ¦
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