real estate lender: Mortgage Loans - Too Many Rules - 04/20/12 09:40 AM
In the movie Amadeus the king said to Mozart, "Too many notes."   Even though the mortgage lending field has opened up a lot these past two years there are still "too many rules" and the rules change daily. Fannie Mae, Freddie Mac and FHA are costing tax payers billions of dollars and to me that says Rules do not = good loans or good underwriting.   Years ago I used to tell my customers to not use common sense when they tried to figure out the bank underwriting. That was when the rules were so convoluted and confusing. Then we went … (1 comments)