Well it's been a strange trip! Who knew what was coming? We at American Home Mortgage sure didn't! Wow. The nations 10th largest wholesale mortgage company down the drain. Wall St over reaction. Today sure doesn't look like yesterday, does it. Sub prime lending all but gone. All underwriting standers are changing. Now what loans are best for home buyers. There are still some options, FHA, state bond programs and loans with PMI(private mortgage Ins). It's now more then ever important that buyers have good credit.
I don't think lending standards will ever be the same.
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