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New York Times Equity Article...Uhgghh
I read this article yesterday in the New York TimesĀ regarding the latest lender problems we are facing as a profession. While I usually can write off these tactics of the media trying to scare the public into thinking the sky is falling, this one IS pretty scarey because you are dealing with huge corporations that don't care what your buyer/seller story is. I will say that if you look at some of the stats they use( "In December, 5.7 percent of home equity lines of credit were delinquent or in default, up from 4.5 percent in 2006, according to Moody's") it might not be as bad as they are making it out to be because what I don't see is what 'normal' rates of delinquincy are. As I remember, 2006 was great for your market and our industry as a whole.
You can click on the link belowe to go directly to the New York Times website for the article.
Are there any lenders out there who have any stats they can provide for comparison?
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