Federal Reserve Proposed Rule - Part 1
Proposed by the Federal Reserve August 26, 2009.
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Ken Jones
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Broker Knowledge Group: (November 20, 2009 9:01am)
OK, so basically it changes nothing for the broker industry right? As of January 1 YSP is credited to the borrower and originators are only allowed to make money on line 801. So, is this the first law that actually hurts banks more than brokers because they will have some SRP trouble?
Alan M: (October 02, 2009 12:18pm)
How would this new set of rules afffect a mortgage banker or a broker co-brokering through a direct lender with a warehouse line who sells off the loans after funding?
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