The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Tradelite who wrote (580)	8/29/2001 9:22:25 PM
From: jjs_ynot	Read Replies (1) of 306849

Lenders could care less about cash cushions or anything else. Their only concern is to satisfy the Underwriting guidelines of the organization that wholesales the mortgages and then packages these bundles for resale and securitization via Fannie Mae and Freddie Mac. Almost 100 percent of Mortgage Brokers have sold their pipeline before they ever go to closing and GE Credit Corp is the wholesale intermediary in approximately 60 percent of all mortgages. By the way there are a ton of undeveloped parcels in Fairfax County. Also, the Clifton and Fairfax Station areas had substantial (greater than 25 percent) price declines in the early 90's.

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