mortgages: Thanks, but No Thanks!
- 02/21/11 07:03 AM
I was surfing the internet this week when I stumbled across a survey conducted by a national lender. The results of the survey made me laugh so hard that milk came out of my nose - that was crazy considering several hours had passed since my daily intake of dairy, but I digress! So, the survey I saw measured the level of customer satisfaction of the mortgage process. Needless to say, the unscientific results proved that consumers were less than satisfied with the mortgage process in 2010 than in 2009. Consumers cited longer processing times and the burden of gathering documents … (4 comments)
mortgages: Is the Jumbo Loan Market Dead?
- 11/16/10 03:11 PM
"Jumbo loans" are loans above Fannie Mae and Freddie Mac loan limits, which in the state of Alabama is $417,000. In 2008, when the financial markets first felt the heat from the mortgage meltdown, many mortgage companies either went out of business or dropped their non conforming (any loan program that wasn't marketable to Fannie, Freddie, or HUD) loan products off of their menu. When this happened, Jumbo loans basically became the baby that was thrown out with the bath water. Despite the fact that many of these loans were very good quality loans, there was very little, if any, demand … (2 comments)
I was surfing the internet this week when I stumbled across a survey conducted by a national lender. The results of the survey made me laugh so hard that milk came out of my nose - that was crazy considering several hours had passed since my daily intake of dairy, but I digress! So, the survey I saw measured the level of customer satisfaction of the mortgage process. Needless to say, the unscientific results proved that consumers were less than satisfied with the mortgage process in 2010 than in 2009. Consumers cited longer processing times and the burden of gathering documents … (4 comments)
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