Dennis,

thanks for the info and more importantly your countless on going contributions on this Forum!

Having said that I think that this "deal" will be a commercial failure , eevn among hard core milegae junkies.

1- List of participants is primarily comprised of sub-prime and small lenders.

---what percent of the US mortgage do you think that their list has?
---What is the marketshare of the participants?


2- Fees make the tax payments look like a great deal.
Unless making a very large payment then the $20 Flat on top of 2.49 adds a lot of vig.

If you have a $15,000 a month morgage with one the participants then $20 is not meaningful.

But I'd venture to guess that most FT'ers with a mortgage that size did not borrow from this list of participants.

Finally, its a very uncompelling business model.
The flat fee is even more costly on the "soon" to be offered Auto and lease payments.