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

To: russwinter who wrote (68767)	8/24/2006 1:00:46 PM
From: loantech	Read Replies (1) \| Respond to of 110194

Hi Russ, Thanks for the response. I appreciated shades comments but I have two choices. I can quit work. Or I can follow Fair lending and Equal credit opportunity laws and help to coordinate the closings of these files. I do not talk to borrowers. So I cannot advise them. I do not like the new world of home mortgage lending with all the changes this past 2-3 years and am looking to move into commercial lending.But I would actually be breaking the law to not facilitate the current closings. The borrowers request the credit and it is not my business whether or not I feel as though they qualify or they are stupid IMO. I resent shades remarks as my personal ethics are very high. In fact the "new loan world" causes me distress and because of this I am changing employment. In response to your question the loans I am doing do not have a pre pay penalty. So borrowers can exit at any time. There is a provision that says if they take a pre pay they can get a lower rate. As far as CWFC I do not know if they have prepays on their products as I do not work for CWFC nor do I send loans there for them to fund. Thanks for getting to me Russ and I hope you are having a great summer. tom