More swell news.

Will the last agent standing please remember to turn out the lights?

Eric. 

Thanks.  I needed a laugh.  We are being hit from so many directions, I'm beginning to feel like a fish in a barrel.

Lenn

Lenn, thanks.  I had not picked that news up yet.  We are getting closer and closer to only do AAA paper, 20% down.  Currently, we can only do 85% CLTV except on special programs.  A few years of tight guidelines and maybe the markets will stabalize. AJ

Lenn,  This had to be expected.  I thought it would have happened sooner.  Of course, being in a declining market (FL) and they're wanting 10% down - UGH!!  But, you what, we'll all make it through this as well.  I'd like to say that we'll be better for it in the long run, but the lesson will be lost as soon as the light shines through.  Hmm, maybe this should be a post.

Alan.  A few years?  EEeeeeekkkkkkkk.

Marc.  Make it a post.  We need more "hard core" posts.  Write it for posterity.  $10% down is one think in parts of Florida where the average price is $200K.  In my area, the average price is $700K.  That's a lot of money. 

And, folks are not willing to commit 10% down on a property that may continue to lose value.  Can't blame them.

Lenn the problem just keeps on spreading.  We don't use these three PMI Companies, but that is not to say that it will not spread to or effect the ones we do use.