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subprime: 2 Year Adjustable Mortgage Getting the Boot? - 07/18/07 05:02 PM
Is this the start of a trend?
My inbox is full today - mostly with subprime lending news.  Do to market conditions, lenders are starting to drop their 2 year adjustable programs and extending them to at least three years.
I have heard many different reasons.  Lack of profit, lack of time to build equity, etc.  Really it's simple.  Why would a lender want a loan that can't be sold on the secondary market?
Here is the article:
http://blownmortgage.com/2007/07/16/option-one-eliminates-the-228-subprime-arm-loan/
This just shows one lender.  I have a short list I could add to it as well.
Take a quick look and leave some comments.  I really don't see … (3 comments)

subprime: Another One Bites the Dust - Get Your Loans Funded NOW!!! (and a great link). - 03/05/07 05:34 PM
Here is the great link:  http://ml-implode.com/
31 Lender Under - How Many More Can We Lose?
Same story when I come in to work everyday.  One lender calls to tell me of three others shutting down for business or being bought out.  He wants my to pilfer my pipeline.  I usually give the same canned answer.  "all of my loans are conforming.  Thanks anyways".
The interesting thing to me is the effect this has on all of the advertising we hear about - as a lender I constantly get emails and calls regarding the current boom of adjustable rate mortgages setting to expire.  You've … (4 comments)

 
Kevin_nelson_3x5_b

Kevin Nelson MLO-121548

Wenatchee, WA

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Mortgage Advisory Group CL-36130

Address: 1250 North Wenatchee Avenue Suite G, Wenatchee, WA, 98801

Office Phone: (509) 860-7197

Cell Phone: (509) 860-7197

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