Archive for Mortgage Brokers
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Sometimes It’s Just Fun To Play With Them Like a Cat With a Toy.
Yesterday, I got a call on my cell phone…
Me: Hello, this is Tim.
Caller: Hi! I am a personal mortgage broker and I’d like to see if I can help you save money.
Me: (Annoyed) I already have all of the funding sources I need.
Caller: Are you sure? What if this call was opportunity knocking and you [...] Read more »
As the Credit Crunch Spreads to More Alt-A Lenders, This Will Become More Common
The sub-prime market was the first to experience the crunch but it is certainly not the only sector.
American Home Can’t Fund Loans, May Liquidate Assets
By Bradley Keoun
American Home Mortgage corporate offices in Irving, Texas
July 31 (Bloomberg) — American Home Mortgage Investment Corp. shares plunged 89 percent after the lender said it doesn’t have cash to [...] Read more »
50% Have Gone Out of Business
The Mortgage Bankers Association is reporting a 50% reduction in the number of loan originators from the peak of the sub-prime boom time.
50% reduction!
This is actually a very good thing and is part of the shakeout needed to start to get the industry back on track.
But, 50% is not enough, it is very likely we [...] Read more »
