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[Allan from Fallbrook]

Pasadena Broker: Just curious about something. As someone in the biz, what are you seeing relative to loan industry reaction from the inside?

I have friends in the banking biz, but mainly on the investment banking side and the reaction is somewhat different, and mainly focusing on the number of deals that have just gotten pulled from circulation.

How much of an impact is this credit crunch having, and how is it impacting your business directly? If your handle is correct, you are operating up in Pasadena, which has traditionally been a very solid market.

Again, just curious.

[snail]

“She’s an investor, she got screwed. I showed a little compassion instead of jumping on the gloat bandwagon”
No problem with the compassion, but then you called most of us as Gloaters.

“I’ll admit it, we’re not the most popular people in the world right now. LO’s/Brokers, we’re getting blamed for being a part of the mess”
I don’t think this is an issue, there are realtors in this Blog. I sure don’t blame them, do you? How about you are blaming some of us because you claimed we are gloating. I didn’t even know you are mortgage broker, you could be a stock broker.

“As for the rest of you yahoos…good luck in whatever you’re looking for”
Sigh….I am not sure what a yahoos type of person is, however its clear Temeculaguy and Bugs are not one of them. I have a feeling is not supposed to be complement, that’s ok.

One more thing, Hot Blonde from Pasadena, Yugoslavia doesn’t exist anymore, its was divided up last time into smaller countries.

[snail]

“She’s an investor, she got screwed. I showed a little compassion instead of jumping on the gloat bandwagon”
No problem with the compassion, but then you called most of us as Gloaters.

“I’ll admit it, we’re not the most popular people in the world right now. LO’s/Brokers, we’re getting blamed for being a part of the mess”
I don’t think this is an issue, there are realtors in this Blog. I sure don’t blame them, do you? How about you are blaming some of us because you claimed we are gloating. I didn’t even know you are mortgage broker, you could be a stock broker.

“As for the rest of you yahoos…good luck in whatever you’re looking for”
Sigh….I am not sure what a yahoos type of person is, however its clear Temeculaguy and Bugs are not one of them. I have a feeling is not supposed to be complement, that’s ok.

One more thing, Hot Blonde from Pasadena, Yugoslavia doesn’t exist anymore, its was divided up last time into smaller countries.

[snail]

“She’s an investor, she got screwed. I showed a little compassion instead of jumping on the gloat bandwagon”
No problem with the compassion, but then you called most of us as Gloaters.

“I’ll admit it, we’re not the most popular people in the world right now. LO’s/Brokers, we’re getting blamed for being a part of the mess”
I don’t think this is an issue, there are realtors in this Blog. I sure don’t blame them, do you? How about you are blaming some of us because you claimed we are gloating. I didn’t even know you are mortgage broker, you could be a stock broker.

“As for the rest of you yahoos…good luck in whatever you’re looking for”
Sigh….I am not sure what a yahoos type of person is, however its clear Temeculaguy and Bugs are not one of them. I have a feeling is not supposed to be complement, that’s ok.

One more thing, Hot Blonde from Pasadena, Yugoslavia doesn’t exist anymore, its was divided up last time into smaller countries.

[PerryChase]

I like what Mark Zandi of Moody’s economy.com said. It’s a credit squeeze not a credit crunch.

Credit worthy customers are still getting loans. What’s wrong with full doc, careful underwriting? That’s the way it used to be done — by careful bankers who lived in the borrowers’ community and knew credit risks in the local markets.

I don’t see why throwing money at any would be borrower with a pulse is the right thing to do. Sure that boosts the economy in the short term but a crash is inevitable.

Didn’t we lecture Japan for willy nilly lending in the 1980s? Didn’t we lecture the Thai, Malaysian and Korean banks for nepotism and lending to their industrialist friends with no collateral and no credit review, thereby causing the Asian crash of 1997?

We should call what is happening a return to normalcy rather than a credit crunch. Not all borrowers should be given loans.

[PerryChase]

I like what Mark Zandi of Moody’s economy.com said. It’s a credit squeeze not a credit crunch.

Credit worthy customers are still getting loans. What’s wrong with full doc, careful underwriting? That’s the way it used to be done — by careful bankers who lived in the borrowers’ community and knew credit risks in the local markets.

I don’t see why throwing money at any would be borrower with a pulse is the right thing to do. Sure that boosts the economy in the short term but a crash is inevitable.

Didn’t we lecture Japan for willy nilly lending in the 1980s? Didn’t we lecture the Thai, Malaysian and Korean banks for nepotism and lending to their industrialist friends with no collateral and no credit review, thereby causing the Asian crash of 1997?

We should call what is happening a return to normalcy rather than a credit crunch. Not all borrowers should be given loans.

[PerryChase]

I like what Mark Zandi of Moody’s economy.com said. It’s a credit squeeze not a credit crunch.

Credit worthy customers are still getting loans. What’s wrong with full doc, careful underwriting? That’s the way it used to be done — by careful bankers who lived in the borrowers’ community and knew credit risks in the local markets.

I don’t see why throwing money at any would be borrower with a pulse is the right thing to do. Sure that boosts the economy in the short term but a crash is inevitable.

Didn’t we lecture Japan for willy nilly lending in the 1980s? Didn’t we lecture the Thai, Malaysian and Korean banks for nepotism and lending to their industrialist friends with no collateral and no credit review, thereby causing the Asian crash of 1997?

We should call what is happening a return to normalcy rather than a credit crunch. Not all borrowers should be given loans.

[Anonymous]

Hi everybody, is this the “12 Step Message Board For Recovering Victims Of The Real Estate Bubble Blog”? I just want to stress that this historically unprecedented asset bubble that has put home ownership out of reach for many people is not the responsibility of the cocksure flippers and investors on a sugar high of Sunday morning infomercials from Hawaii showing them how easy it could be to become Titans of Finance. Society made them do it. I also believe we should not hold responsible the community service brokers from Pasadena, lenders, banks, and others who made a F*#^load of money in the last few years pushing and packaging the mortgage bling loan candy that enabled these poor souls who humbly aspired simply to being the next Donald Trump. THEY GOT SCREWED!!!

[Anonymous]

Hi everybody, is this the “12 Step Message Board For Recovering Victims Of The Real Estate Bubble Blog”? I just want to stress that this historically unprecedented asset bubble that has put home ownership out of reach for many people is not the responsibility of the cocksure flippers and investors on a sugar high of Sunday morning infomercials from Hawaii showing them how easy it could be to become Titans of Finance. Society made them do it. I also believe we should not hold responsible the community service brokers from Pasadena, lenders, banks, and others who made a F*#^load of money in the last few years pushing and packaging the mortgage bling loan candy that enabled these poor souls who humbly aspired simply to being the next Donald Trump. THEY GOT SCREWED!!!

[Anonymous]

Hi everybody, is this the “12 Step Message Board For Recovering Victims Of The Real Estate Bubble Blog”? I just want to stress that this historically unprecedented asset bubble that has put home ownership out of reach for many people is not the responsibility of the cocksure flippers and investors on a sugar high of Sunday morning infomercials from Hawaii showing them how easy it could be to become Titans of Finance. Society made them do it. I also believe we should not hold responsible the community service brokers from Pasadena, lenders, banks, and others who made a F*#^load of money in the last few years pushing and packaging the mortgage bling loan candy that enabled these poor souls who humbly aspired simply to being the next Donald Trump. THEY GOT SCREWED!!!

[temeculaguy]

See, this is just the story of our collective lives, these boards are nothing more than a cocktail party we were invited to. We get a hot blonde in here and somehow we manage to piss her off and she bids us farewell. Hotblonde, stay a while, become one of us (come to the dark side, we have cookies). Both SD and sd realtors have weathered the attacks to become driving forces in our collective quest to unravel the markets mysteries. Our resident appraiser and favorite sage Bugs, always enlightens us and routinely finds himself in a skirmish. We have cyphire, perry, HLS, JWM, radelow, rustico and a many more that have a variety of personal and professional experiences that make us all better equipped to understand this mess and without them this place would be nothing. Sure, even a few of the more learned folks have taken their shots at you on this thread but how you handle it is what will give you credibility here, part of it is a test and part of it is to get you to see the other side. Alan threw a sincere question at you, answer it with your expertise and ignore the tempo of the thread, nobody can take your integrity, only you can surrender it. I say stick around, jump in on the next hot topic, learn and teach at the same time. This is the dirty dozen and we are in need of a hot blonde and a broker from Pasadena. If you choose to storm out of the party, thank you for the debate and the compliments.

[temeculaguy]

See, this is just the story of our collective lives, these boards are nothing more than a cocktail party we were invited to. We get a hot blonde in here and somehow we manage to piss her off and she bids us farewell. Hotblonde, stay a while, become one of us (come to the dark side, we have cookies). Both SD and sd realtors have weathered the attacks to become driving forces in our collective quest to unravel the markets mysteries. Our resident appraiser and favorite sage Bugs, always enlightens us and routinely finds himself in a skirmish. We have cyphire, perry, HLS, JWM, radelow, rustico and a many more that have a variety of personal and professional experiences that make us all better equipped to understand this mess and without them this place would be nothing. Sure, even a few of the more learned folks have taken their shots at you on this thread but how you handle it is what will give you credibility here, part of it is a test and part of it is to get you to see the other side. Alan threw a sincere question at you, answer it with your expertise and ignore the tempo of the thread, nobody can take your integrity, only you can surrender it. I say stick around, jump in on the next hot topic, learn and teach at the same time. This is the dirty dozen and we are in need of a hot blonde and a broker from Pasadena. If you choose to storm out of the party, thank you for the debate and the compliments.

[temeculaguy]

See, this is just the story of our collective lives, these boards are nothing more than a cocktail party we were invited to. We get a hot blonde in here and somehow we manage to piss her off and she bids us farewell. Hotblonde, stay a while, become one of us (come to the dark side, we have cookies). Both SD and sd realtors have weathered the attacks to become driving forces in our collective quest to unravel the markets mysteries. Our resident appraiser and favorite sage Bugs, always enlightens us and routinely finds himself in a skirmish. We have cyphire, perry, HLS, JWM, radelow, rustico and a many more that have a variety of personal and professional experiences that make us all better equipped to understand this mess and without them this place would be nothing. Sure, even a few of the more learned folks have taken their shots at you on this thread but how you handle it is what will give you credibility here, part of it is a test and part of it is to get you to see the other side. Alan threw a sincere question at you, answer it with your expertise and ignore the tempo of the thread, nobody can take your integrity, only you can surrender it. I say stick around, jump in on the next hot topic, learn and teach at the same time. This is the dirty dozen and we are in need of a hot blonde and a broker from Pasadena. If you choose to storm out of the party, thank you for the debate and the compliments.

[lendingbubblecontinues]

as a reminder….people who refer to themselves as “hot blonde” (or “hot” anything) are typically anything but!!!

just like the “sexy” mortgages these people sold you: you get the “hot blonde” to agree to go home with you, but when you get her in bed, you find out that not only is she truly a brunette, but she has a penis as well!

[lendingbubblecontinues]

as a reminder….people who refer to themselves as “hot blonde” (or “hot” anything) are typically anything but!!!

just like the “sexy” mortgages these people sold you: you get the “hot blonde” to agree to go home with you, but when you get her in bed, you find out that not only is she truly a brunette, but she has a penis as well!

[Author]

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