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loans: DICHOTOMY (BANKING) - 11/06/10 10:57 AM
Interesting, banks (or so I have read) are sitting on about One Trillion in excess reserves. The Fed is trying to put additional cash into the economy and risking inflation. Banks are quick to point out that there is a) low demand and b) credit risk is too high. But as any real estate agent can tell you on the lending side, banks are doing everything they can to virtually discourage lending plus if they have a chance to get paid early on a short sale forget it. So I am sitting having a cup of coffee and thinking about these … (2 comments)

loans: Banker, Mortgae banker, Broker... which is best? - 09/03/07 09:56 AM
There seems to be a lot of incomplete or inaccurate information floating around about the role of the various principals in lending. Some generated by brokers/lenders themselves.
To qualify my statements I am a REALTOR. However, I was CEO of a bank, I also owned my own brokerage company and I also worked in several capacities with a large regional Mortgage Banker. Over the years I have run loan servicing, ran a secondary market department, ran a wholesale loan department and also spent time in the origination trenches.
The argument or discussion of who/ what is best to use for a mortgage … (8 comments)

loans: Discrimination...not then - 04/12/07 12:55 AM
Here is a story that in todays climate it is impossible to believe. But it did happen... it was a different time and expectations were different. I use it to illustrate how things have not only changed but continue to evolve...usually for the better.
In 1974 I was a VP with a large regional mortgage banker. Among my duties were secondary marketing. I generally found investors, got their criteria for underwriting and the delivered loan packages to them. There was a large Mutual Savings Bank that was a good investor and we had about $50MM in loans with them (this in the days … (1 comments)

loans: Real Estate and Lending - 03/14/07 09:46 AM
Over the last few weeks there has been a lot of discussion about a shake out in the Mortgage Industry (ever notice when we start to refer to a business as an Industry there is almost an immediate downturn?). My friend Kevin Nelson recently wrote a couple blogs on this site about this subject and I challenged him a little... not about the point but about how broad of a brush is it really. Anyway, todays Seattle PI has an article that pretty well sums up what is going on.
Mortgages will become harder to get because of underwriting and because … (1 comments)

 
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Perrin Cornell, Broker, ABR

Wenatchee, WA

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Century 21 Exclusively, Wenatchee, WA

Address: 135 N. Mission, Wenatchee, WA, 98801

Office Phone: (509) 662-2100

Cell Phone: (509) 669-0354

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Comments and advice on the Real Estate market in Washington State and the housing market in and around Wenatchee, East Wenatchee and the Wenatchee Valley.


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