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SD Realtor
ParticipantAllan I am not a finance guy but I think the fact that M3 is not reported is quite incredible. It makes one think that the printing presses have been operating for quite a long time. I am not talking conspiracy… it is just kind of… well unsettling (to say the least)… I am surprised more people never seem to talk about that.
SD Realtor
ParticipantNot true… Money does indeed disappear…
SD Realtor
ParticipantNot true… Money does indeed disappear…
SD Realtor
ParticipantNot true… Money does indeed disappear…
SD Realtor
ParticipantThere are alot of people that view the site but do not post. I was identified at an open house by the listing agent a few months ago. The site is pretty popular.
SD Realtor
ParticipantThere are alot of people that view the site but do not post. I was identified at an open house by the listing agent a few months ago. The site is pretty popular.
SD Realtor
ParticipantThere are alot of people that view the site but do not post. I was identified at an open house by the listing agent a few months ago. The site is pretty popular.
SD Realtor
Participantbsrsharma –
Actually I beg to differ. All of the fat is already being trimmed in the industries you mentioned. In fact by the time the recession hits, those industries will be close to 100% shaken out as they have already been shedding jobs the past 18 months. Think about a general slowdown all around. As companies contract R/D slows down, production slows down, funding for new projects gets put on hold. Retail sectors slow down… I can go on and on. I am not debating whether a recession is good or bad for an economy. However vulnerability to many more professions is alot more prevalent then you have indicated. I would gather that many posters here have not been through a full blown recession.
SD Realtor
Participantbsrsharma –
Actually I beg to differ. All of the fat is already being trimmed in the industries you mentioned. In fact by the time the recession hits, those industries will be close to 100% shaken out as they have already been shedding jobs the past 18 months. Think about a general slowdown all around. As companies contract R/D slows down, production slows down, funding for new projects gets put on hold. Retail sectors slow down… I can go on and on. I am not debating whether a recession is good or bad for an economy. However vulnerability to many more professions is alot more prevalent then you have indicated. I would gather that many posters here have not been through a full blown recession.
SD Realtor
Participantheheheh.. go get em Rus… Actually everyone makes more money the other way (two loans) correct? The originating lender, the brokers, the homeowner gets a better write off… My first condo back in 1991 I went the PMI route. When I bought the home in Talmadge in 2003 I went the two mortgage route. I did actually run the numbers in 2003 for my purchase and the two loan route was the better way to go. That was just my case though.
SD Realtor
Participantheheheh.. go get em Rus… Actually everyone makes more money the other way (two loans) correct? The originating lender, the brokers, the homeowner gets a better write off… My first condo back in 1991 I went the PMI route. When I bought the home in Talmadge in 2003 I went the two mortgage route. I did actually run the numbers in 2003 for my purchase and the two loan route was the better way to go. That was just my case though.
SD Realtor
ParticipantAh I see…Actually that is a good point Rus…
I wonder how much more diligent the PMI underwriters are/were from 2000-2006 compared to the loan originating underwriters.
SD Realtor
ParticipantAh I see…Actually that is a good point Rus…
I wonder how much more diligent the PMI underwriters are/were from 2000-2006 compared to the loan originating underwriters.
SD Realtor
ParticipantHi Rus,
The rationale behind the reason that brokers encouraged buyers to get two loans instead of a single loan with PMI was IMO that PMI is non deductible so getting two loans allows you a better deduction.
However, I would bet that as you intimated, if you run the numbers, you may very well find that a single loan with PMI actually saves money for the buyer, especially if you account for origination fees of a single verses two loans. I think each case would vary depending on the strength of the buyer and the prevailing rates of the time and of course the broker.
In terms of simply qualifying for the loan, I don’t see how there would be any difference at all. In each case you would have to disclose the exact same information to each underwriter. So if you got the dual loan case with a single lender, or a single jumbo loan with PMI with that same lender, or a conforming loan with that lender and a second with someone else, the underwriters would all get the same information so I don’t think that would have bearing on whether the buyer gets approved or not…
No factual evidence in that response… just me guessing so I would surmise that someone will ring my bell and prove me wrong…
SD Realtor
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