Forum Replies Created
-
AuthorPosts
-
Username
ParticipantThis is hilarious, a realtor trying to find clients on a housing blog which has predicted the bubble burst for the last few years and still predicts no end in sight (with data to back up the claims). Then they name themselves BearBroker like it’s supposed to gain themselves some credit with housing bears.
This reminds me of the Boondocks episode “The S-Word” where Ann Coulter says “I just hope they don’t stop the war in Iraq or I’m going to have to start stripping” only replace “don’t stop” with “turn around” and “war in Iraq” with “housing market”.
Hahahahaha…
No Offense BearBroker (that name has a funny irony now doesn’t it?) I’m sure you work very hard on every deal and don’t use your looks (or cosmetic surgery) to sell at all.
Hahahahah… I really shouldn’t laugh at a “professional”…. Hahahaha!
Participant[quote=sdnerd][quote=arnie]When an arm loan resets does the lender look at LTV ratios when determining the new interest rate? If so, I can’t imagine a lot of people getting more attractive rates if the homeowner has lost a significant amount of equity. Doesn’t a high LTV, by definition, make it a more risky loan?[/quote]
You adjust on an index, + whatever your base is. [/quote]
When I worked for a broker (a shady broker at that) I was in charge of making sure the paperwork reflected the correct information. The terminology is margin plus index equals fully indexed rate. I was in charge of calling all the lenders who have since gone out of business to verify the margin and for sub prime the average margin was 6% plus LIBOR (London Inter Bank Offer Rate) so even if LIBOR was 0.0% you still go from a 5% to a 6%. I’m sure the margin wasn’t as high on conforming loans. Then again why would a broker go to a conforming lender when there were so many fly by night ones with cool sounding names (BNC, AMC (argent), WMC, D-1, Oak Street, First Franklin, IRES, MILA, Accredited, etc) with hot young female AE’s giving away pens, clocks, mini-basket ball hoops, cell phone lawn chairs (no joke) with their companies logo on it? Plus they wanted to maximize their own paycheck not the well being of their borrower they met one night telemarketing.
I wonder if I’m going to hell for working for them even though I didn’t sell loans?
Participant[quote=sdnerd][quote=arnie]When an arm loan resets does the lender look at LTV ratios when determining the new interest rate? If so, I can’t imagine a lot of people getting more attractive rates if the homeowner has lost a significant amount of equity. Doesn’t a high LTV, by definition, make it a more risky loan?[/quote]
You adjust on an index, + whatever your base is. [/quote]
When I worked for a broker (a shady broker at that) I was in charge of making sure the paperwork reflected the correct information. The terminology is margin plus index equals fully indexed rate. I was in charge of calling all the lenders who have since gone out of business to verify the margin and for sub prime the average margin was 6% plus LIBOR (London Inter Bank Offer Rate) so even if LIBOR was 0.0% you still go from a 5% to a 6%. I’m sure the margin wasn’t as high on conforming loans. Then again why would a broker go to a conforming lender when there were so many fly by night ones with cool sounding names (BNC, AMC (argent), WMC, D-1, Oak Street, First Franklin, IRES, MILA, Accredited, etc) with hot young female AE’s giving away pens, clocks, mini-basket ball hoops, cell phone lawn chairs (no joke) with their companies logo on it? Plus they wanted to maximize their own paycheck not the well being of their borrower they met one night telemarketing.
I wonder if I’m going to hell for working for them even though I didn’t sell loans?
Participant[quote=sdnerd][quote=arnie]When an arm loan resets does the lender look at LTV ratios when determining the new interest rate? If so, I can’t imagine a lot of people getting more attractive rates if the homeowner has lost a significant amount of equity. Doesn’t a high LTV, by definition, make it a more risky loan?[/quote]
You adjust on an index, + whatever your base is. [/quote]
When I worked for a broker (a shady broker at that) I was in charge of making sure the paperwork reflected the correct information. The terminology is margin plus index equals fully indexed rate. I was in charge of calling all the lenders who have since gone out of business to verify the margin and for sub prime the average margin was 6% plus LIBOR (London Inter Bank Offer Rate) so even if LIBOR was 0.0% you still go from a 5% to a 6%. I’m sure the margin wasn’t as high on conforming loans. Then again why would a broker go to a conforming lender when there were so many fly by night ones with cool sounding names (BNC, AMC (argent), WMC, D-1, Oak Street, First Franklin, IRES, MILA, Accredited, etc) with hot young female AE’s giving away pens, clocks, mini-basket ball hoops, cell phone lawn chairs (no joke) with their companies logo on it? Plus they wanted to maximize their own paycheck not the well being of their borrower they met one night telemarketing.
I wonder if I’m going to hell for working for them even though I didn’t sell loans?
Participant[quote=sdnerd][quote=arnie]When an arm loan resets does the lender look at LTV ratios when determining the new interest rate? If so, I can’t imagine a lot of people getting more attractive rates if the homeowner has lost a significant amount of equity. Doesn’t a high LTV, by definition, make it a more risky loan?[/quote]
You adjust on an index, + whatever your base is. [/quote]
When I worked for a broker (a shady broker at that) I was in charge of making sure the paperwork reflected the correct information. The terminology is margin plus index equals fully indexed rate. I was in charge of calling all the lenders who have since gone out of business to verify the margin and for sub prime the average margin was 6% plus LIBOR (London Inter Bank Offer Rate) so even if LIBOR was 0.0% you still go from a 5% to a 6%. I’m sure the margin wasn’t as high on conforming loans. Then again why would a broker go to a conforming lender when there were so many fly by night ones with cool sounding names (BNC, AMC (argent), WMC, D-1, Oak Street, First Franklin, IRES, MILA, Accredited, etc) with hot young female AE’s giving away pens, clocks, mini-basket ball hoops, cell phone lawn chairs (no joke) with their companies logo on it? Plus they wanted to maximize their own paycheck not the well being of their borrower they met one night telemarketing.
I wonder if I’m going to hell for working for them even though I didn’t sell loans?
Participant[quote=sdnerd][quote=arnie]When an arm loan resets does the lender look at LTV ratios when determining the new interest rate? If so, I can’t imagine a lot of people getting more attractive rates if the homeowner has lost a significant amount of equity. Doesn’t a high LTV, by definition, make it a more risky loan?[/quote]
You adjust on an index, + whatever your base is. [/quote]
When I worked for a broker (a shady broker at that) I was in charge of making sure the paperwork reflected the correct information. The terminology is margin plus index equals fully indexed rate. I was in charge of calling all the lenders who have since gone out of business to verify the margin and for sub prime the average margin was 6% plus LIBOR (London Inter Bank Offer Rate) so even if LIBOR was 0.0% you still go from a 5% to a 6%. I’m sure the margin wasn’t as high on conforming loans. Then again why would a broker go to a conforming lender when there were so many fly by night ones with cool sounding names (BNC, AMC (argent), WMC, D-1, Oak Street, First Franklin, IRES, MILA, Accredited, etc) with hot young female AE’s giving away pens, clocks, mini-basket ball hoops, cell phone lawn chairs (no joke) with their companies logo on it? Plus they wanted to maximize their own paycheck not the well being of their borrower they met one night telemarketing.
I wonder if I’m going to hell for working for them even though I didn’t sell loans?
ParticipantWhy not give him a tent and make him camp out in the yard? It’s not that cold at night. Let him come inside to take a shower and eat and hopefully you have wireless so he can use internet from a laptop and an extention cord.
ParticipantWhy not give him a tent and make him camp out in the yard? It’s not that cold at night. Let him come inside to take a shower and eat and hopefully you have wireless so he can use internet from a laptop and an extention cord.
ParticipantWhy not give him a tent and make him camp out in the yard? It’s not that cold at night. Let him come inside to take a shower and eat and hopefully you have wireless so he can use internet from a laptop and an extention cord.
ParticipantWhy not give him a tent and make him camp out in the yard? It’s not that cold at night. Let him come inside to take a shower and eat and hopefully you have wireless so he can use internet from a laptop and an extention cord.
ParticipantWhy not give him a tent and make him camp out in the yard? It’s not that cold at night. Let him come inside to take a shower and eat and hopefully you have wireless so he can use internet from a laptop and an extention cord.
Participant[quote=DWCAP]Sacramento also made the top ten.
[/quote]I wonder what draws people to Sacraghetto? Is it the allergies, the fact that it’s 2 hours from anywhere fun (Tahoe, the Yay Area), the ghetto that consumes the majority of the city, the hot summers, the cold winters?
Participant[quote=DWCAP]Sacramento also made the top ten.
[/quote]I wonder what draws people to Sacraghetto? Is it the allergies, the fact that it’s 2 hours from anywhere fun (Tahoe, the Yay Area), the ghetto that consumes the majority of the city, the hot summers, the cold winters?
Participant[quote=DWCAP]Sacramento also made the top ten.
[/quote]I wonder what draws people to Sacraghetto? Is it the allergies, the fact that it’s 2 hours from anywhere fun (Tahoe, the Yay Area), the ghetto that consumes the majority of the city, the hot summers, the cold winters?
-
AuthorPosts