Does anyone else feel like we are watching a big game of Lender musical chairs? Only in this game they take away about 3 chairs after every stop. Do they really expect the public to believe that they didn't know they were playing a giant game of hot potato or pass the trash with these loose standard sub prime loans?
All of the responsible originators are just taking a deep breath and hunkering down until the lenders sort things out. We are making our borrowers aware that all loans are in turmoil now. Along with that information we reassure them that things won't always be this loopy. We also don't forget our Realtor partners either. Without actually working in this lending environment, they don't necessarily understand that a product that exists this morning may go out the window by the afternoon. Education of everyone in the process about the current situation is necessary. If something catches our borrowers or our Realtors off guard then we haven't done our job as lenders.
Be professional, be active, be successful.
Your comments are always welcome!
Brought to you by Professional Mortgage Group, Inc. in Columbia, Missouri
Friday, August 10, 2007
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