Commercial Mortgages - Headed for a Meltdown? - 03/31/08 11:58 PM
With the steady decline and continued erosion of residential mortgage lending guidelines, the question lingers- will the commercial mortgage market follow?
The answer would appear to be "yes" to the average American seeing the economy screeching to a standstill.   But as Mr. Miagy said in the Karate Kid, "Things are not always as they appear".  
Commercial mortgages are not likely to see the crash that the residential markets have seen.  There are several reasons for this.  
Historically commercial mortgages have been approved with a much higher level of diligence.   Low document loans and stated loans are the exception as opposed to the … (5 comments)

Mortgage Lenders Keep De-Stimulus Plan Alive - 03/05/08 05:23 PM
At a time when the economy needs a shot in the arm to revive, it would seem that the government and big mortgage lending seem to be at odds.   As the "mortgage meltdown" continues to grow, lenders are continuing to tighten guidelines at a record pace.  
As fast as the government can find ways to relax FHA and conforming guidelines and lending limits, the big lenders are finding ways to protect their interest and tighten the things they have control over.  The net effect: a continued de-stimulation of the housing market.  
The Government wants lenders (and their shareholders) to continue to … (2 comments)

EXTRA!, EXTRA! Last Mortgage Lender Goes Bust! (Humor) - 03/05/08 12:11 PM
AS I sit here and receive another URGENT BULLETIN from yet another hurting mortgage lending institution (Chase Bank) about  discontinuing the A Minus product line as of today, I realize this is one of a dozen or so that I have received in the last week or two.   I allow myself to drift off into the daydream land of the future...................
 The Headline reads:
 Extra! Extra!   Last Mortgage Lenders Go Bust!  
The article goes on to say that the the Government has instituted an emergency lending institution going by the name of The New World Order Of Mortgage Lending! 
____________________________________________________________________  
Below are their guidelines:
… (10 comments)

 
Tom_elder

Tom Elder, Mortgage Broker Compliance TILA, HMDA, ECOA, FCRA, RESPA, CFPB

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