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Diego Mamani
Participant[quote]These are not “problems” – they are good things. It’s called “proper underwriting”[/quote][quote]had the same experience (…) Both our credits were above 800 + I’ve held the same job for close to 10 yrs.[/quote]
I think that “proper underwriting” would require that lenders be smart about it, and require somewhat less documentation from borrowers with ~800 scores, stable incomes, low LTV, etc.
These “smart” bankers went from lending money freely in NINJA fashion, to now being completely tight and giving everybody, regardless of creditworthiness, a hard time.
Both extremes are wrong.
Participant[quote]These are not “problems” – they are good things. It’s called “proper underwriting”[/quote][quote]had the same experience (…) Both our credits were above 800 + I’ve held the same job for close to 10 yrs.[/quote]
I think that “proper underwriting” would require that lenders be smart about it, and require somewhat less documentation from borrowers with ~800 scores, stable incomes, low LTV, etc.
These “smart” bankers went from lending money freely in NINJA fashion, to now being completely tight and giving everybody, regardless of creditworthiness, a hard time.
Both extremes are wrong.
Participant[quote]These are not “problems” – they are good things. It’s called “proper underwriting”[/quote][quote]had the same experience (…) Both our credits were above 800 + I’ve held the same job for close to 10 yrs.[/quote]
I think that “proper underwriting” would require that lenders be smart about it, and require somewhat less documentation from borrowers with ~800 scores, stable incomes, low LTV, etc.
These “smart” bankers went from lending money freely in NINJA fashion, to now being completely tight and giving everybody, regardless of creditworthiness, a hard time.
Both extremes are wrong.
Participant[quote]These are not “problems” – they are good things. It’s called “proper underwriting”[/quote][quote]had the same experience (…) Both our credits were above 800 + I’ve held the same job for close to 10 yrs.[/quote]
I think that “proper underwriting” would require that lenders be smart about it, and require somewhat less documentation from borrowers with ~800 scores, stable incomes, low LTV, etc.
These “smart” bankers went from lending money freely in NINJA fashion, to now being completely tight and giving everybody, regardless of creditworthiness, a hard time.
Both extremes are wrong.
Participant[quote=Scarlett]Sorry for asking a dumb question, but I am curious how are those rates correlated with the 30yr fixed mortgage rates?[/quote] You question is not dumb at all, and is very relevant. In the long term all interest rates move together, but on a daily, weekly, even monthly, basis, different types of interest rates could move in opposite directions.
Participant[quote=Scarlett]Sorry for asking a dumb question, but I am curious how are those rates correlated with the 30yr fixed mortgage rates?[/quote] You question is not dumb at all, and is very relevant. In the long term all interest rates move together, but on a daily, weekly, even monthly, basis, different types of interest rates could move in opposite directions.
Participant[quote=Scarlett]Sorry for asking a dumb question, but I am curious how are those rates correlated with the 30yr fixed mortgage rates?[/quote] You question is not dumb at all, and is very relevant. In the long term all interest rates move together, but on a daily, weekly, even monthly, basis, different types of interest rates could move in opposite directions.
Participant[quote=Scarlett]Sorry for asking a dumb question, but I am curious how are those rates correlated with the 30yr fixed mortgage rates?[/quote] You question is not dumb at all, and is very relevant. In the long term all interest rates move together, but on a daily, weekly, even monthly, basis, different types of interest rates could move in opposite directions.
Participant[quote=Scarlett]Sorry for asking a dumb question, but I am curious how are those rates correlated with the 30yr fixed mortgage rates?[/quote] You question is not dumb at all, and is very relevant. In the long term all interest rates move together, but on a daily, weekly, even monthly, basis, different types of interest rates could move in opposite directions.
Participant[quote]Hyperinflation – 11% mortgage rates return.[/quote] We shouldn’t confuse high inflation with hyperinflation. The latter would result in mortgage rates of at least 100%, and easily 500% and 1000%; or, most likely, no one in their right mind would lend you any money, even at infinite interest rates.
Participant[quote]Hyperinflation – 11% mortgage rates return.[/quote] We shouldn’t confuse high inflation with hyperinflation. The latter would result in mortgage rates of at least 100%, and easily 500% and 1000%; or, most likely, no one in their right mind would lend you any money, even at infinite interest rates.
Participant[quote]Hyperinflation – 11% mortgage rates return.[/quote] We shouldn’t confuse high inflation with hyperinflation. The latter would result in mortgage rates of at least 100%, and easily 500% and 1000%; or, most likely, no one in their right mind would lend you any money, even at infinite interest rates.
Participant[quote]Hyperinflation – 11% mortgage rates return.[/quote] We shouldn’t confuse high inflation with hyperinflation. The latter would result in mortgage rates of at least 100%, and easily 500% and 1000%; or, most likely, no one in their right mind would lend you any money, even at infinite interest rates.
Participant[quote]Hyperinflation – 11% mortgage rates return.[/quote] We shouldn’t confuse high inflation with hyperinflation. The latter would result in mortgage rates of at least 100%, and easily 500% and 1000%; or, most likely, no one in their right mind would lend you any money, even at infinite interest rates.
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