The YSP need not be disclosed unless the borrower wishes to shop around on the mortgage terms.

Name: The YSP need not be disclosed unless the borrower wishes to shop around on the mortgage terms.
Brand: Quizplus
Rating: 4.9 (49 reviews)

Question

Quizplus · Accepted Answer

The Yield Spread Premium (YSP) must be disclosed to the borrower upfront, as it can affect the interest rate of the loan and the overall cost of the mortgage, ensuring transparency and allowing the borrower to make informed decisions.

The YSP Need Not Be Disclosed Unless the Borrower Wishes