subprime meltdown: GET 'EM WHILE THEY'RE HOT!! - 03/05/07 04:48 AM
Below is the actual text of an email I received from a lender as I was writing my last post.  They are still offering 100% Stated/No Ratio loans . . . 
Market is starting to deteriorate on this type of product.  Like it says, get it while it's hot.  Send your loans in, we will aprove them and then LOCK and get your conditions to us.  Who know how much longer these products will be available.  Many of the lenders have cut their maximum LTV/CLTV's to 90%.
Now...i find the sense of urgency a bit disturbing and am as far from compelled … (0 comments)

subprime meltdown: "Subprime Meltdown" - Bring it On! - 03/05/07 04:40 AM
Wow, wish I shorted New Century (again!). . . NEW has dropped 63% at the time of this post on news of federal criminal investigation into its practices.I also received an email from my Fremont Investment rep this morning saying they're closing their doors as well.The "easy money" of the past few years is coming to an end. I, for one, welcome it. I look forward to the weeding out of the uninformed, unscrupulous, and just plain uneducated when it comes to this industry.I welcome moving towards a day when I don't have to explain to underwriters and account executives how … (3 comments)

 

Joe Ramirez

Lake Forest, CA

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