Yield Spread Premium helps homebuyers get into homes!

What is it?  is it good or bad?
Yield spread premiums enable more people to buy homes.  It allows no closing cost loans, and it allows people to buy homes without paying points.  With 1 point equal to 1% of your loan, many people wouldn't be able to buy if they also had to pay these points.  They are already up against their limits on LTV and DTI and many barely qualify for the loan to begin with.  A great post can be found here, http://www.choicefinance.net/blog/2007/12/20/yield-spread-premium-ysp-why-it-is-great/, about this recent hot topic.  Please read this more detailed blog post link, and if you agree with it in principal please join me by posting a text link that reads "yield spread premium" and link to it or this post.  Thanks for your help in getting the word out.  There is bad information out there and pending legislation to get rid of this vehicle that enables more people to buy homes.  Keeping YSP means more business for everyone and more homeowners period.  Let's really get the word out and let it be known that Yield Spread Premium is a good thing.

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