http://www.visionaryhomebuilders.org/president-elect-barack-obama-on-housing-lending-and-financial-institutions/ Building Homes, Strengthening Communities Thu, 04 Mar 2010 03:21:09 +0000 hourly 1 http://www.visionaryhomebuilders.org/president-elect-barack-obama-on-housing-lending-and-financial-institutions/comment-page-1/#comment-3820 Mary Dunmyer Tue, 24 Nov 2009 17:47:16 +0000 http://www.visionaryhomebuilders.org/blog/?p=365#comment-3820 I just want to know if this is a wise way to borrow money or will this hender the homeowner down the road. I have tried throughout the years to understand financing and refinancing but I'm still very green behind the ears. I'm looking at all of this from the standpoint of a borrower. I don't know who to trust and what traps I might fall into from all this lending information. I see lending agencies all the time that want ot offer lowere interest rates, is this a trap? I just want to know if this is a wise way to borrow money or will this hender the homeowner down the road. I have tried throughout the years to understand financing and refinancing but I’m still very green behind the ears. I’m looking at all of this from the standpoint of a borrower. I don’t know who to trust and what traps I might fall into from all this lending information. I see lending agencies all the time that want ot offer lowere interest rates, is this a trap?

]]> http://www.visionaryhomebuilders.org/president-elect-barack-obama-on-housing-lending-and-financial-institutions/comment-page-1/#comment-19 Angela Fri, 07 Nov 2008 18:46:05 +0000 http://www.visionaryhomebuilders.org/blog/?p=365#comment-19 Great blog. . I would like to know if Obama is going to be able to convince FHA that just because your a small mortgage broker's office (my husband and I ) cannot produce evidence of a net worth of $63,000.00 and why we cannot offer these fha loans to our local community . . they say because we are insolvent?? Then why don't you ask all the (were brokers)now loan officers having to go net branch unsupervised and having to give up 10% of their paycheck and charging the consumer and additional $495.00 per loan just to be able to help their local clients. . why don't they say to FHA no YSP? and charge a flat rate. . you would see allot of originators get out of the business because it is not as lucrative anymore and they can go back to selling used cars. The net worth does nothing to protect the borrower!!! If this is required why not have the office that has 10 loan originators put up $500,000.00 net worth. . ?? I have been in this business for 17 years and have owned my own business, (I'm incorporated and w-2) I'm ethical,honest and never did an option arm loan or any of those funky loans. . maybe if FHA would make it easier for small offices to stay in business and help their local people that need it "we could close more,help more, and get this housing market going. . but right now. they have stopped allot of licensed mortgage brokers from lending and helping their client's. . Again, this must the effort of the big banks again trying to push us out. . again, , you can't teach ethics!! If you have $63,000.00 in the bank right now and your a small shop,. , most likley you are "NOT" ethical. . please adivse. . if this will change, or if anyone know what is coming anytime soon?? Regards, Angela . Please, your comment to: Angela@themortgagehouseinc.net Great blog. . I would like to know if Obama is going to be able to convince FHA that just because your a small mortgage broker’s office (my husband and I ) cannot produce evidence of a net worth of $63,000.00 and why we cannot offer these fha loans to our local community . . they say because we are insolvent?? Then why don’t you ask all the (were brokers)now loan officers having to go net branch unsupervised and having to give up 10% of their paycheck and charging the consumer and additional $495.00 per loan just to be able to help their local clients. . why don’t they say to FHA no YSP? and charge a flat rate. . you would see allot of originators get out of the business because it is not as lucrative anymore and they can go back to selling used cars. The net worth does nothing to protect the borrower!!! If this is required why not have the office that has 10 loan originators put up $500,000.00 net worth. . ?? I have been in this business for 17 years and have owned my own business, (I’m incorporated and w-2) I’m ethical,honest and never did an option arm loan or any of those funky loans. . maybe if FHA would make it easier for small offices to stay in business and help their local people that need it “we could close more,help more, and get this housing market going. . but right now. they have stopped allot of licensed mortgage brokers from lending and helping their client’s. . Again, this must the effort of the big banks again trying to push us out. . again, , you can’t teach ethics!! If you have $63,000.00 in the bank right now and your a small shop,. , most likley you are “NOT” ethical. . please adivse. . if this will change, or if anyone know what is coming anytime soon?? Regards, Angela . Please, your comment to: Angela@themortgagehouseinc.net

]]> http://www.visionaryhomebuilders.org/president-elect-barack-obama-on-housing-lending-and-financial-institutions/comment-page-1/#comment-17 Norma Cabrera Thu, 06 Nov 2008 22:12:37 +0000 http://www.visionaryhomebuilders.org/blog/?p=365#comment-17 Great blog, very informative on the plan Obama has to fix foreclosure crisis. Great blog, very informative on the plan Obama has to fix foreclosure crisis.

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