American Land Title Association
Print Friendly
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

Safeguards Sought On Yield Spread Premiums

January 9, 2002

Mortgage Bankers Association States Its Case To Senate Banking Committee

Inman News Features

The Mortgage Bankers Association of America reiterated its support for the U.S. Department of Housing and Urban Development?s recent clarifications of the legality of yield spread premiums under the Real Estate Settlement Procedures Act. That support was given in testimony presented to the U.S. Senate Banking Committee.

The bankers? group said the industry would continue to work with HUD and Congress to assist in developing effective borrower disclosures and protection measures.

"Up-front costs have long been recognized as the major barrier to homeownership and the yield spread premium mechanism has emerged as the most effective tool for removing this barrier," said MBA Chairman-Elect John Courson.

Yield spread premiums allow borrowers to reduce up-front loan fees by instead paying a higher interest rate. However, these premiums at times have been used to defraud borrowers.

Courson said MBA wants clear regulations, a maximum level of protection for borrowers and less confusion for lenders about what practices are legal.

Copyright: Inman News Service

Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2016 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment