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Can someone help me understand this.... If HR #1728 (the bill that will do away with YSP paid to brokers) has passed the house and is on it's way to the senate. If it passes, that means we (brokers) will be limited to 1 point on all loans --- TOTAL. I will have to shut my doors, as will many/most brokers. Why don't I see anyone fighting this? Why aren't our wholesale lenders concerned about their customers (us) getting run out of business? Why aren't our NAMB and local trade org's fighting this? I believe everyone is in a state of disbelief. I called 5 of my lender reps today to ask what their companies were doing about this bill that will destroy their customers. None of them even knew what the status of the bill was, let alone if their companies had any opinion on the matter. Anyone seen Titanic lately?
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