Comments on: 2008: Predictions~ Resolutions

By: markd

markd — Thu, 03 Jan 2008 21:21:18 +0000

Dude, your way off on US Bank, their portfolio only holds 3% subprime mortgages. They have strong relationships with Freddie and get some programs others are not offered. Their underwriting standards are tightening down with everyone elses, but they are far from being in trouble.

By: mikew

mikew — Wed, 02 Jan 2008 22:20:57 +0000

I disagree that lenders are going to have a more diverse portfolio of product than brokers. How can they possibly have more products than brokers? A broker by our very nature sells products offered from many banks. Lenders on the other hand only offer products tailored to their own lending guidelines. Bankers don’t want to offer other lenders products because they can’t make their margins doing so.

Even after all of this I still as a broker can offer more product than any retail rep I know. I can offer Conventional, Jumbo, Subprime, Alt A, Construction, Reverse, FHA, VA, Rural Housing, Commercial and so on. The difference is that I can offer these products from several sources.

Also, regarding Interbay. Their products are nichie. A good commercial officer should have several sources and only offer Interbay when necessary.

By: Glenn fm Naples

Glenn fm Naples — Wed, 02 Jan 2008 20:21:15 +0000

Chris – my prediction for 2008, is that lenders holding mortgages that are ARM’s will slowly realize that a loan performing at 7.95% is better than it being non-performing at 10.95% and having to pay the carrying costs.

If lenders make better decisions before foreclosure the market will stabilize and they will protect their “investments” better than they are today.

By: Saeed Qome

Saeed Qome — Wed, 02 Jan 2008 08:35:44 +0000

National City Wholesale is Closed as of 12/31/2007