Comments on: How many Fronts can the NAMB survie? http://blownmortgage.com/2007/12/18/how-many-fronts-can-the-namb-survie/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sun, 08 Nov 2009 16:51:22 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: suzie_100 http://blownmortgage.com/2007/12/18/how-many-fronts-can-the-namb-survie/comment-page-1/#comment-72928 suzie_100 Thu, 20 Aug 2009 20:14:52 +0000 http://blownmortgage.com/2007/12/18/how-many-fronts-can-the-namb-survie/#comment-72928 At least they are trying to protect the public, misselling is a bad thing and pretty unethical. At least they are trying to protect the public, misselling is a bad thing and pretty unethical.

]]> By: mike http://blownmortgage.com/2007/12/18/how-many-fronts-can-the-namb-survie/comment-page-1/#comment-8187 mike Tue, 18 Dec 2007 21:45:05 +0000 http://blownmortgage.com/2007/12/18/how-many-fronts-can-the-namb-survie/#comment-8187 I dispise the fact that brokers income is being pointed out. I see no reason why bankers shouldn' have to do the same. Oh well I could go on and on. At the end of the day the borrowers are still shopping TERMS. They care more about obtaining the most affordable mortgage than what the broker is making. I believe there are many ways the proven resourceful mortgage broker will find ways to use this to our advantage. I can see this as a final blow to the brokers that were banging the borrowers. However if you are a broker who always prices fairly this is actually a good thing. In the end it will perhaps bring down the cost of borrowering. If that happens it will also effect banking income too. There were simply too many los making unbelievable money banging borrowers. Now brokers will be forced to offer competitive pricing (something we can do) and the bankers will have to compete with us on that end. In the end it just another disclosure. Nothing new about that. My question is after this what are the bankers going to pick on the brokers for? I dispise the fact that brokers income is being pointed out. I see no reason why bankers shouldn’ have to do the same. Oh well I could go on and on.

At the end of the day the borrowers are still shopping TERMS. They care more about obtaining the most affordable mortgage than what the broker is making. I believe there are many ways the proven resourceful mortgage broker will find ways to use this to our advantage.

I can see this as a final blow to the brokers that were banging the borrowers. However if you are a broker who always prices fairly this is actually a good thing.

In the end it will perhaps bring down the cost of borrowering. If that happens it will also effect banking income too. There were simply too many los making unbelievable money banging borrowers. Now brokers will be forced to offer competitive pricing (something we can do) and the bankers will have to compete with us on that end.

In the end it just another disclosure. Nothing new about that.

My question is after this what are the bankers going to pick on the brokers for?

]]> By: Toby http://blownmortgage.com/2007/12/18/how-many-fronts-can-the-namb-survie/comment-page-1/#comment-8185 Toby Tue, 18 Dec 2007 20:08:46 +0000 http://blownmortgage.com/2007/12/18/how-many-fronts-can-the-namb-survie/#comment-8185 OK, here is how these regulations break down. They don't cover investor housing. Unless they prohibit an investor from living in his own house why can't the loan be done as an investor loan? Granted the rate may be higher but if the owner occupied regulations are too restrictive on subprime loans then borrowers may be better off taking an investor loan. It sounds like more unintended consequences - borrower will still get the subprime loan, they will just pay a higher rate. These boneheads need to realize that the market has already taken care of the stupidity of the past. OK, here is how these regulations break down. They don’t cover investor housing. Unless they prohibit an investor from living in his own house why can’t the loan be done as an investor loan? Granted the rate may be higher but if the owner occupied regulations are too restrictive on subprime loans then borrowers may be better off taking an investor loan. It sounds like more unintended consequences – borrower will still get the subprime loan, they will just pay a higher rate. These boneheads need to realize that the market has already taken care of the stupidity of the past.

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