What a Crazy Sub-Prime Market!

It sure has been a crazy couple of weeks for the sub-prime lending market! You can say it has been March Madness for the lending world. It hasn't been as fun as the College Basketball March Madness that we all are accustomed to either! If you haven't heard, the news wires have been filled with news of faltering lenders. One of the largest Sub-prime players (New Century) is really hurting and bankruptcy is looming. FMF Capital shut down last week and earlier this year a few others packed up and closed their doors! What does this all mean for PMG and our customers? This means we as brokers must be selective as to whom we do business with. Major players such as Countrywide Home Loans, Chase, and Wells Fargo are going to continue to thrive and will be used. More and more brokers and customers will flock to them because of their stability. Now this doesn't mean other lenders are bad or will not be used, they are just going to be checked out thoroughly before we form a business relationship with them. We will not sacrifice our customers financial future! If it doesn't make sense to use a particular lender, then we won't. We are very good at knowing which lenders must be used in certain situations and we know who can get the deal done for our clients. Once this storm is over, the good lenders will remain and it will be back to business as usual. Any lender could have been successful with the mortgage boom that has gone on for the past several years, it is times like now that the cream rises to the top!

Professional Mortgage Group wants to continue making a name for itself in the Columbia, MO market. PMG's goal is to be known as THE mortgage broker for Mid-Missouri and we want to be thought of first when it comes to a mortgage!

Professional Mortgage Group, Inc.
Columbia, MO