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

To: loantech who wrote (57626)	4/6/2006 4:14:36 PM
From: Ramsey Su	Read Replies (2) \| Respond to of 110194

A few months ago, I asked a friend who works at HUD with all the exotic mortgages out there these days, why do we even need HUD? I never did get a response. <gggg>

To: loantech who wrote (57626)	4/6/2006 4:25:09 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 110194

Maybe they are trying to off-set the down-turn in real estate prices in bubble areas, with an upsurge in real estate prices in non-bubble areas. FHA is coming out with new guide lines to get everybody in. Eliminating most of the down payment of 3%. Lowering credit standards to try to capture the sub prime market. I know this will not affect So. Cal but it may push the bubble harder else where. Most our borrowers are going 100% CLTV with some form of piggyback. some are putting maybe 5% down and on occasion 10%. Total quality of borrowers is poor in my opinion which is not worth squat............ .