SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: ild who wrote (36379)7/20/2005 10:22:53 AM
From: Wyätt Gwyön  Read Replies (1) of 110194
 
A Mortgage Salesman Makes His Pitch
Benchmark Lending Group, a small, fast-growing California mortgage company, typifies the industry's current stampede into interest-only lending.
Now the 39-year-old Mr. Ray is on pace to earn $200,000 this year in mortgage commissions. His friendly, efficient style helps win borrowers' trust. But his biggest edge comes from offering alluring and controversial mortgages that require unusually slim payments for a few years, before bigger sums fall due. Some customers use these loans to borrow as much as seven times their annual income -- a staggering jump from the two-times-annual-income level that was the rule of thumb when the 30-year fixed-rate mortgage was the norm.
online.wsj.com
When one trainee asked about grimmer scenarios in the event of a drawn-out property slump, people at Benchmark stared at him with bewilderment and pity, as if he didn't understand the first thing about real estate. The firm's overarching philosophy is explained in a separate meeting by Jodi Ehrlicher, Benchmark's processing manager. "Buying a home is a leap into the unknown, but you have to do it if you want to get anywhere," she says.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News