Rich Sweum's Blog

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Mortgage and Lending - 1st Security Bank - NMLS #115765
Residential Mortgage Musings Real Estate Industry News

ARCHIVED BLOG POSTS

2007 

How about two 2nd mortgages?  This one was great, it combines 2 of my least favorite things, a negative amortizing loan AND bank fraud!Loan officer Santiago sells clients on an 80/20 and fails to tell them that they are in a neg am loan on the first mortgage.  She also advises clients that she mi...
08/30/2007
1.  So what if the bad credit people lose their homes...they shouldn't have bought anyway, right?IF THEY LOSE THEIR HOMES, OUR VALUES ARE EFFECTED, SOUND CREDIT FOLKS HAVE A HARDER TIME REFINANCING, ETC. ETC.   EVERYTHING STARTS TO TANK. 2.  Sub-Prime borrowers are a small portion of all the buye...
08/30/2007
Just thinking about the housing inventory issues......in snohomish county we are at about a 3-4 month supply and the supply is getting greater.  I wonder what it would be like to be in Maricopa County, AZ, with a 10+ month supply?A painful, but necessary step in the correction of over-inflated ho...
08/29/2007
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Richard Sweum

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