Rick Hutchison is a Mortgage Consultant with Keystone Funding, Inc. a Pennsylvania-based UpFront Mortgage Broker licensed in California, the District of Columbia, Maryland, Pennsylvania, and Virginia.

Rick is a member of the UpFront Mortgage Brokers Association (UMBA), the Maryland Association of Mortgage Professionals (MAMB), and the National Association of Mortgage Brokers (NAMB).

Origination Fee: Rick Hutchison has implimented a "fixed-fee" model keyed to the loan amount for all loans in all states.  Call or eMail for specifics.

Yield Spread Premium: The Yield Spread Premium (YSP) is money the lender pays Keystone Funding to deliver a rate to the customer. The theoretical Par Rate is the interest rate for which a mortgage lender will neither pay a rebate (yield spread premium or negative points) or require discount points for a mortgage.  In actuality, the available Par Rate usually results in a small YSP paid by the lender.  That YSP amout is always disclosed in the Good Faith Estimate (GFE) by Keystone Funding and is always credited against the client's settlement costs.

The client may elect to accept an interest rate higher than the par rate in order to generate a higher YSP - the higher the rate the higer the YSP.  The higher YSP may be used to further reduce the client's settlment costs.