Somewhere behind locked doors where the motif is best described as a late 70’s disco club, there sits a handful of banking executives studying the success of one of the few industries that continue to survive the current downward trends in our economy. That is right, I am talking polished brass poles and scantly dressed women. It comes down to making money off the bare essentials of what God has given us.
Okay… not really, but one lender has adopted the philosophy of offering only the bare essentials of the mortgage industry. And I am one to admit that lending needed to tighten up, but tightening up so much that things begin to fall off seems a bit ludicrous. Perhaps, they are going back to the old adage of “If it isn’t broke, don’t fix it.” So if we broke it, what do we need to do to fix it? Or more appropriately, when did we break, and how far back do we need to go to fix it?
Does it come down to if you play with it too much, you will break it? Did lenders play with it too much to where it broke? Or have they merely stroked it to the point where it needs a break? This lender read more
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Why must the pendulum swing all the way to the other extreme with these people?