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Lenders Get Even More Strict With Borrowers
RealtorMag ^
| 10/2/12
| RealtorMag
Posted on 10/02/2012 11:21:45 AM PDT by illiac
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Housing recovery goes on......(sarc)....
1
posted on
10/02/2012 11:21:54 AM PDT
by
illiac
To: illiac
I'm getting increasingly suspicious about this “Tight Money” banker theme.
Sounds like Hard Left political preparation for direct government intervention.
Anyone remember yesterday?
The same folks were telling us that greedy bankers and “Loose Money” caused the greatest financial crisis since the 1930’s.
To: illiac
When I sold my house in 99 in DFW I saw red flags.
When I bought it in 84 I had to have 15% down, when I sold it all the lady had to have was a pay stub. She got in for $400.00.
3
posted on
10/02/2012 11:32:59 AM PDT
by
hadaclueonce
(you are paying 12% more for fuel because of Ethanol. Smile big Corn Lobby,)
To: zeestephen
Yeh...I’m also seeing reports on MarketWatch that the banks are benefitting hughely from QE3....here we go again!
4
posted on
10/02/2012 11:33:35 AM PDT
by
illiac
(If we don't change directions soon, we'll get where we're going)
To: zeestephen
I'm getting increasingly suspicious about this Tight Money banker theme. Sounds like Hard Left political preparation for direct government intervention.
Yep. The places where they all twitter at one another are abuzz with plans for "public option banks".
To: illiac
they’re tighter for now...if Barry gets re-elected, another EO will undo any “stringent” rules.
rates will go to 1.5% to re-inflate the bubble.
6
posted on
10/02/2012 11:33:46 AM PDT
by
TurboZamboni
(Looting the future to bribe the present)
To: hadaclueonce
I’m also seeing in MarketWatch that the points being paid to fannie and freddie may go upsignificantly....
7
posted on
10/02/2012 11:35:14 AM PDT
by
illiac
(If we don't change directions soon, we'll get where we're going)
To: illiac
8
posted on
10/02/2012 11:35:19 AM PDT
by
rockinqsranch
(Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
To: hadaclueonce
I drove by last year. Broke down basketball goal in the driveway. No grass, broken garage door window.
Bet she has the free phone.
9
posted on
10/02/2012 11:35:27 AM PDT
by
hadaclueonce
(you are paying 12% more for fuel because of Ethanol. Smile big Corn Lobby,)
To: illiac
It would have been nice if they had enforced strict underwriting standards BEFORE the subprime mortgage horse had left the barn.
10
posted on
10/02/2012 11:35:52 AM PDT
by
E. Pluribus Unum
(Government is the religion of the psychopath.)
To: illiac
I wonder if we should re-fi again.
11
posted on
10/02/2012 11:37:05 AM PDT
by
Tax-chick
(Optimism is much shallower than hope.)
To: TurboZamboni
stringent rules are racist.
12
posted on
10/02/2012 11:37:56 AM PDT
by
MrB
(The difference between a Humanist and a Satanist - the latter admits whom he's working for)
To: hadaclueonce
You and I sold on the first wave, if you sold in ‘99. I sold in 2002. The “appreciation” (read: speculative premium) achieved by the home 2002 > 2007 was MORE THAN THE ENTIRE AMOUNT I SOLD FOR. I bot: $300K, 1995. I sold $500K 2002. It sold for $850K in 2005 and $1.2 MM in 2007.
13
posted on
10/02/2012 11:38:48 AM PDT
by
Attention Surplus Disorder
(This stuff we're going through now, this is nothing compared to the middle ages.)
To: illiac
it seems as if the elites are creating a “caste system” based on their control of credit scores.
14
posted on
10/02/2012 11:41:09 AM PDT
by
longtermmemmory
(VOTE! http://www.senate.gov and http://www.house.gov)
To: zeestephen
I’m a an ER physician, jtried to refi my mortgage, but because I’m an “ independent contractor” no one will give me the time of day. It’s idiotic. I get 3 or 4 calls a day from recruiters, have never missed a paycheck, could work every day of the month if I wanted to kill myself.
15
posted on
10/02/2012 11:51:48 AM PDT
by
Kozak
(The means of defence again.t foreign danger, have been always the instruments of tyranny at home JM)
To: illiac
This just sounds like whining spin to appease realtors who are having trouble making sales.
Banks were ordered into the sub-prime market, they got burned and are returning to sane lending criteria.
I remember the 90’s at Seafirst/BofA where the loan officers had to be ordered and trained to approve loans they would have laughed at the month before.
16
posted on
10/02/2012 11:52:12 AM PDT
by
Psycho_Bunny
(Thought Puzzle: Describe Islam without using the phrase "mental disorder" more than four times.)
To: MrB
stringent rules are racist.
And soon, credit scores will be.
Remember you heard it here first.
To: illiac
What really got me is when I met a guy who was trying to refinance a $110K mortgage on a house that is easily worth over a million....and they were giving him a hard time about the appraisal.
To: Buckeye McFrog
I think they’re already doing that.
There seems to be a sliding scale on qualifying credit scores depending on your “race”.
19
posted on
10/02/2012 12:05:28 PM PDT
by
MrB
(The difference between a Humanist and a Satanist - the latter admits whom he's working for)
To: MrB
I did it over the phone and said I was black.
You are whatever race you consider yourself.
20
posted on
10/02/2012 12:09:32 PM PDT
by
Jewbacca
(The residents of Iroquois territory may not determine whether Jews may live in Jerusalem.)
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