Tag: sub-prime
The mortgage business needs to clean up.
This is not a bubble post. It is a post about lending.
Having loan officers and mortgage brokers with Fiduciary duties to their clients is a small step in the right direction. Take a guess as to what the paint spells on each of the individuals chests as you read the link below.
Live [...]
Posted: October 5th, 2007 under General Real Estate.
Tags: ethics, Legacy-Escrow-Service, lending, sub-prime
Comments: 39
The Flip Side of the Sub-Prime Story
Who will suffer most from all of this? Will the people who honored their commitments, and who valued and appreciated the chance the lender took on them, get hurt by all of the “reform”?
No one was more surprised than I, when I got the mortgage and closed on my home. In the end, [...]
Posted: September 17th, 2007 under General Real Estate.
Tags: home, loans, sub-prime
Comments: 105
Perspectives: Is this a former loan officer or a customer of a LO/subprime lender?
Evidently, this is circulating in e-mails everywhere. Depending upon your perspective it could be funny or not so funny. On the one hand it could be a former employee of a defunct sub-prime lender or it could be a customer with a toxic loan. Either way this evokes a lot of [...]
Posted: September 13th, 2007 under General Real Estate.
Tags: ethics, Legacy-Escrow-Service, loan-officer, sub-prime
Comments: 3
Short sales and foreclosures in the MLS
Over at the Estately Blog (formerly the ShackBlog) we did a little digging into how easy it is to find publicly advertised Short sales and foreclosures in the MLS and we found a few.
“Short Sale” - 18 homes and condos for sale in the greater Seattle area
“Motivated Seller” - 125 homes for sale [...]
Posted: September 7th, 2007 under General Real Estate.
Tags: foreclosure, short-sale, sub-prime
Comments: 45
What is escrow’s role when agent & loan officer are present at difficult signing
In light of all the mortgage turmoil going on in the sub-prime arena I thought that it may be meaningful to address the awkward situation when a borrower is showing clear signs of “discomfort” with the loan terms presented by the escrow staff during a signing.
I believe that giving real and true versions of what [...]
Posted: August 13th, 2007 under General Real Estate.
Tags: closing, escrow, ethics, Legacy-Escrow-Service, sub-prime
Comments: 27
There’s No Love for the Subprime Borrower
It’s all over the news, we’re hearing about major subprime lenders having to restate their losses and every day, lenders are coming into my office to inform us of changes to their guidelines. This is all good, right? It will be tougher to provide loans for home buyers who maybe should be spending more time to learn [...]
Posted: February 13th, 2007 under Agent Advice, Buyer Information, Mortgage and Lending.
Tags: 80/20, ARM, credit, home-buyers, prepayment-penalty, refinance, sub-prime, subprime
Comments: 24
