Well anyone who is checking into the Blog of late has not found a lot of activity. I have been looking for something different, perhaps a bit more interesting news, or perhaps some light at the end of the tunnel that might not be a continuation of the same train wreck. To tell you the truth the events and news of the day is just more of the same ole stuff.
Loan programs age going away, lenders are tightening up more and more. The average borrowers who don't have spotless credit are being charged more and more or have no loan funds available at all. Fannie Mae and Freddie Mac are profiteering any way they can, investors who buy FHA loans are charging more and more and not buying into the Government programs like the FHA Secure loan.
Politicians are still spouting and fantasizing about thinking some investors and lenders who own mortgage paper are going to reduce the amount owed on the mortgage so someone will refinance the loan that no investor will buy.
In the mean time someone from Countrywide called me yesterday, lied about wanting to refinance his loan and then tried to recruit me to go to work for them. I simply laughed out loud and told him he had to be crazy.
More non specifically the beat goes on, the tail continues to wag the dog and this thing is far from over. I wish I knew which round of the battle the industry was now in. We will see.
I am getting requests to do more blogging and I will be back at it hopefully.
More to come
Lonny
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment