Archive for the ‘Mortgage’ Category

The mortgage tragedy veiled some benefits

The anger of America and the world has showered down on the mortgage business and the practices used over the last few years that led to so much damage. The toll for the irresponsible lending from all participants will be felt for years to come. It has become very easy to focus on the negative […]

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Blaming mortgage brokers is much too simplistic

As the criticism showers down on the mortgage industry, it seems the broker is increasingly being held accountable for the ruinous practices that destroyed mortgage lending and led to the current financial chaos. This conclusion has laid the mortgage broker business to waste with many of them out of business and the few that are […]

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Mortgage Cramdowns versus contractual rights

Congress is currently considering legislation that will allow borrowers in Chapter 13 bankruptcy to have the court modify their loan by changing the terms or by lowering the principal amount down to the current market value. This is just inherently wrong. It is just another example of our entitled society not having to be responsible […]

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Mortgage availability will hold key to housing

One of the most important determinants in establishing a bottom and bringing strength back to real estate will be the return of a dynamic mortgage market. Real estate is not typically purchased with cash even though this occasionally happens. The tight underwriting standards that are being applied are making it extremely difficult to secure a […]

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Mortgage crises created by reckless borrowers

Spending years running a Secondary department of a mortgage company and seeing the sheer amount of dishonesty from borrowers was quite astonishing. The absolute abandonment of morals and responsibility in our society gave rise to the mortgage crises devastating our financial system. I have been hearing endless screams of people blaming the greedy “fat-cat” Wall-Streeters, […]

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