broker outpost

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Submitted by TheBreeze on August 3, 2007 - 5:02am

Broker Outpost is a good place to follow the lending trainwreck. When a lending product that used to be widely available disappears, these guys are the first to know:

National City says buh-bye to stand-alone Seconds:

alt a gone?????:

Today is a sad sad day:

Frightening -- Jim Cramer's predictions on RE:

Lots of other good stuff there. Happy reading!

Submitted by Bugs on August 3, 2007 - 6:58am.

The "grapevine" has some pretty knowedgeable participants, but it's always interesting to see how little some of those people understand about their own business.

Submitted by ocrenter on August 3, 2007 - 7:27am.

this one is classic,

"Well to me this is tragic.... Most consumers have an average score of 675, which where does it put them...alt a for now...

Some markets are impossible to do full doc... We work in a highly immigrant area, where you literally need to go stated or no doc or no ratio based on the way their employers pay them...

Oh well, in this case I am screwed.... Its not that I don't have clients, I do, but without alt-a, I truly will not be able to close loans. It is 98 percent of my offices business"

based on the way their emplyers are paying them, they really have no business buying a house!

Submitted by donaldduckmoore on August 3, 2007 - 2:35pm.

They are just fooling around.

Submitted by JWM in SD on August 3, 2007 - 2:57pm.

"They are just fooling around."


Submitted by NotCranky on August 3, 2007 - 3:48pm.

That's a nice link. Good timing on your part in posting it too.

Submitted by donaldduckmoore on August 3, 2007 - 3:55pm.

I mean a lot of the posts are not real, isn't it.

Submitted by JWM in SD on August 3, 2007 - 4:22pm.

"I mean a lot of the posts are not real, isn't it."

No, they just call it Brokers Outpost to throw people off...they're really a bunch of Plumbers who want to talk about mortgage lending...

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