Mon, Oct 06, 2008
How to Navigate the Mortgage Mar... by Brian Stewart
I was reflecting back on the roller coaster ride we've all witnessed within the mortgage industry and came upon an article entitled Fannie Mae Eases Credit To Aid Mortgage Lending which first appeared in the New York Times on September 30, 1999. This article from 1999 makes for an interesting read and helps underscore that the credit crisis we are in today stemmed partly from political policy decisions made over a decade ago. All finger pointing aside, the backlash of any financial crisis is the pendulum swinging to the opposite extreme. The days of sub-prime lending and mortgage qualification without income verification are gone and underwriting standards have tightened drastically across the board. For conventional loans, Marin...
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