par plus pricing arrangements
Spanish translation: precios/tasas estipuladas por encima del valor nominal (del crédito)
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| 18:15 Jun 23, 2005 |
| English to Spanish translations [PRO] Bus/Financial - Finance (general) | |||||||
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|  Selected response from: Margarita Palatnik (X) Local time: 15:06 | ||||||
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| 4 +2 | precios/tasas estipuladas por encima del valor nominal (del crédito) |
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Answers
5 mins confidence: 
peer agreement (net): +2
peer agreement (net): +2precios/tasas estipuladas por encima del valor nominal (del crédito) Explanation: Inflated Home Mortgage Costs: Yield-Spread Premium Information - Some mortgage lenders offer brokers a referral fee if the broker gets the consumer to accept a higher interest rate over the life of the mortgage. At closing, these kickbacks would be listed as "yield spread premiums," "service release premiums," "yield differentials," "rate participation fees," "service release fees" or "par-plus pricing." This practice causes several problems for the consumer. One problem is that the mortgage broker has no incentive to find the best deal for his or her client. Instead, the broker can look for the mortgage lender that offers the best referral fee. Another problem is the impact the higher interest rate has on the mortgage payments over the life of the loan. The consumer will pay thousands of extra dollars in the end simply because of a small increase in the interest rate. Finally, since the fees are not explicitly described in the mortgage documents, the consumer has no way of knowing that the broker was not representing his or her best interests. |
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