Y


Glossary

Year-end statement

The report shows how much was paid in interest during the year, as well as the remaining mortgage loan balance at the end of the year. If the bank has an impound account for you, it will also show how much was paid and reserved in property taxes. If the bank does not have a property tax impound account, then tax details are not displayed on the report.


Yield

The value of interest or dividend payments from an investment. The yield is usually stated as a percentage of the investment price.



Acronyms

YSP
(Yield spread premium) paid to the broken for giving a borrower a higher interest rate on a loan in exchange for a lower up-front costs generally paid in organization fees, broker fees or discount points