Posts tagged as:

borrower

Blame us, the lending industry and Wall Street, we DESERVE it, NOT the distressed homeowner.

by Moe Bedard

By Poppy (30 year mortgage industry veteran and senior underwriter) 
Well, my hat is off to you citizens of America, you have not disappointed me once again.  Just about everyone that responds to the articles in the Newspapers and Media that report on this now widening foreclosure debacle, has in their infinite wisdom, deemed that the distressed [...]

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They did not understand the product themselves so no way could they educate the borrower

by Moe Bedard

 By DJ

Having been in the wholesale end of the business with Option Arms as one of my products, 99% of the time the loan officer would ask for “max prepay, max rebate”. (mortgage lingo = I want to make the most money I can on this loan and how much can I screw the borrower [...]

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