Black Monday (for mortgage brokers)

[TheBreeze]

http://forum.brokeroutpost.com/loans/forum/2/99884.htm

We are merely at the beginning of the decline in housing prices.

[lindismith]

I agree.

I found this blog linked inside one of OC Renter’s story comments. http://0182eb9.netsolhost.com/blog1/?p=18

This guy used to work for New Century. Has some really fascinating reading. I have no idea why I find the details so titillating, but I do.

He sounds like he has a lot to get off his chest. His wife has been in the industry for years too.

[hipmatt]

What do you mean? You mean U.S. Treasury Secretary Henry Paulson is wrong when he called the bottom of the housing market today? The gov. says housing is gonna be fine? I should go buy a place then, right?

[CardiffBaseball]

So my question is…

Is this really happening? We have talked about it many times, but how do we know the next fly by night isn’t cranking out loans?

[(former)FormerSanDiegan]

CardiffBaseball –

I think the proof is in the pudding. Seems like sub-prime lenders are going bankrupt at the rate of one per week. Their businesses are failing for a reason. They are bleeding money/ I doubt that there will be a significant amount of others willing to step up and fill their shoes simply for the opportunity to lose money.

[lindismith]

“What do you mean?”

Hipmatt, I agree with TheBreeze’s final statement: We are merely at the beginning of the decline in housing prices.

[Author]

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