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As the president of Equity Advantage Mortgage Corporation, an established broker and insider to the mortgage lending industry with a background in economics, I am concerned about the media portrayal that the residential industry is on the brink of implosion. Certainly, there have been the poster-child lenders whose loose underwriting in the sub-prime markets have led to their demise, however, this is a cyclical trend in any risk oriented industry. We have seen credit card issuers who issued millions of cards with outrageous limits to unqualified customers knowing that enough would pay their bills to offset the ones who couldn't. But you know what, both you and I … (7 comments)
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