Mortgages Glossary Y
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Year-End Statement / Year End Statement
Mortgage report sent to borrowers at the end of each year specifiying:
- Balance
- Interest Rate
- Payment History
- Escrow Account History
- Payment Status
- Changes That Took Place
Yield
Yield is a return on investment, expressed as a percentage. For example, you invested $20.000 in a Groko Company. Your return was $23.000. In that case yield is:
20.000 / 23.000 * 100 = 86%
100% - 86% = 14%
Yield is 14%
Yield Curve
To understand yield curve, you must know what a yield is.
Yield: Yield is a return on investment, expressed as a percentage. For example, you invested $20.000 in a Groko Company. Your return was $23.000. In that case yield is:
20.000 / 23.000 * 100 = 86%
100% - 86% = 14%
Yield is 14%
Yield Curve: the relationship between yield and maturity date(when get the funds back) of the investment.
Yield to Maturity / YTM
Estimated returns expected with the maturity(when you get the funds back) of an investment
Yield-Spread Premium / Yield Spread Premium
Compensation given to the mortgage broker for selling higher interest rate to the borrower than required by lender. For example, lender requires 6% interest on a 10 year fixed rate mortgage. Brokers gets a borrower to sign up for 7%. Broker will receive compensation from lender for getting borrower into higher rates.