The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (37743)	8/4/2005 11:56:48 AM
From: loantech	Read Replies (2) of 110194

Russ lenders are inserting more clauses stating how long a borrower needs to hold a loan and they are penalizing brokers if a loan gets refi'd or sold during the 1st few months, 6 months or a year in some cases. We had to portfolio a loan that we closed through an outside investor (RFC) that said the seller of the home our buyer just bought needed to hold the home for 90 days. They had held it for just about 11 weeks. Big buyback penalty so we kept it. Getting to be some anti flipping notes that are toxic to the lenders I am not sure about the borrowers will keep my eyes open. Ramsy Su I work in the mortgage industry but it appears as though you have much more knowledge than myself. Spent most of my years selling 30 year and 15 year fixed and subprime 2 year fixed loans. The array of products out there now is stunning and I have not kept up my homework nor do I care to because I see little sense in getting a 3 year ARM IO with neg am for a 100% Loan to value. That is why I say I am now not a loan technician just a future bankruptcy facilitator. Tom

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