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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (56671)	3/23/2006 4:57:53 PM
From: Riskmgmt	Read Replies (1) \| Respond to of 110194

Many borrowers today simply will not qualify under those terms. Ramsey, You are right on with your post. I have loan brokers who can qualify anyone who has a FICO over 500. 500!! I had to see it to believe it, yet these loans are being packaged and sold, so the originator doesn't care. Bankrupcy-no problem, past foreclosure no problem, truly amazing to me and I am talking institutions not hard money lenders. How things have changed, when it does blow up it is going to be big.

To: Ramsey Su who wrote (56671)	3/23/2006 8:35:42 PM
From: russwinter	Respond to of 110194

March 23, 2006 Are lenders getting stingy? blogs.ocregister.com Perhaps. Fewer mortgage applications are easily passing the smell test for the home’s value and the quality of the collateral that protects the lender, says HomeSmartReport. This San Juan Capo shop monitors home valuation databses. In an analysis of lending patterns, HomeSmart thinks this drop may be a possible sign of increasing vigilence by skittish lenders worried if the real estate cycle is turning. Among HomeSmart's finding issued Thursday: In The O.C., 86.1% of applications fell into “slam dunk” status for the home’s value in the six months ended February vs. 90.7% for the previous half-year period. Statewide, 79.6% of loans were recently “slam dunks” vs. 83.8% in the previous six months. For the most recent period, San Diego loans got the biggest share of “slam dunks” at 86.6% of the state’s major communities; Madera got the fewest at 49.8%.