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Friday, January 18, 2008
Mortgage Lender Fall Out, and Why
Wow! What a ride! It's been months and months now, and just when you think the smoldering has ceased, another lender goes down in flames. Our company immediately stepped back and evaluated our company and its ability and risk to survive where we currently stood back just over a year ago. We decided to take a business venture just before the real "stuff" hit the fan. Our business never changed, and any borrower or client using our services would not have been able to notice a single skip in our step. After pushing hard and settling down in our new home, wholesalers began their demise. The foreclosure market hit and lenders saw profits drop into losses. Underwriting tightened, and secondary markets refused loans from wholesalers to the extent that the "wholesale lines" backed up with loans that couldn't be sold. After enough loans sit on those credit lines, it becomes a risk for the owners of those lines to continue allowing the wholesalers or correspondent broker companies fund with those moneys. So, they cut them off. In our new company, we saw very similar situations, so we backed out and got back into the world we started to re-evaluate our options. Here we stand, but not for long. If you would like to see the lending companies that have closed shop click on the this text. Anyway, in case you were wondering the direct cause of some of the fall out, that should brief you.
Saturday, January 05, 2008
Frisco Economy Homes Mortgage Loans
When talking about 2008 economy and it's affect on the real-estate market, you are going to run into two opinions. Some think that we have reached the "trough" and are going upward now, and I like to believe that IS the case. On the other hand, there are plenty of people that think the market will not just be sluggish, but be worse than 2007 all together. If you would like to read on the expectations of 2008 in comparison to 2007 from the angle that 2008 economy will be overall worse than 2007 in it's total affect to the real estate market and mortgages for Frisco, Plano, Irving, and other major cities in the Dallas Metroplex. please click on this text.
Your Mortgage Guy for Life,
Brad Lynch
Your Mortgage Guy for Life,
Brad Lynch
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Testimonials & About Me
- Brad Lynch
- Frisco, Texas, United States
- In 2002, Brad Lynch began energetically consulting families in finding the right mortgage plan for their needs. In the beginning years, he was trained by a mentor who led by example, and this example was the epitome of integrity. Brad learned in the beginning by his mentor that many prospects may not consciously see what good intentions he has for them, do to the “wrap” many have caused w/in this industry, but always do what is right for the customer and in the end it will payoff. Integrity coupled with an energetic nature to nurture relationships, Brad has created clients for life. Through these clients for life, referrals have become the lifeblood of his business.
