We are in historic times in the mortgage industry.   Mortgage bonds are be reclassified to lower ratings and Wall Street has lost their appetite.   They are calling margins due and lenders are having a difficult time finding buyers for their loans.  What does this mean to you and your buyers?   

You may be hearing terms such as "credit crunch" and/or "liquidity crisis" in the news about mortgages.   Oh and by the way, it's not just subprime anymore, this crisis has spilled over to prime and alt-a products too.   Lenders are not able to find buyers on Wall Street leaving their credit lines with loans they cannot sell.   Much like a maxed out credit card, they lender is stuck and cannot fund anymore transactions.  Many borrowers were left in lurch at closing last week when American Home Mortgage was no longer able to fund their loans...this is just the beginning.  There is a massive domino effect that is taking place right now and it's more important than ever that you select a Mortgage Professional to work with your clients.   

To read the rest of the article, and what I recommend you should do for your clients, click here.