More of the same boola.
Heard today on the radio.
No cost, no doc loans. Rates in the 5"s.
No W2's required. No pay stubs.
JUmbo loans in the 6's...not 8's as some advertise.
WTF happened here? Subprime continues unabated ?
Simply amazing.
Mortage lenders - haven't learned lessons
Started by
nimblebear
, Oct 10 2007 09:27 PM
4 replies to this topic
#1
nimblebear
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- Traders-Talk User
- 6,062 posts
Welcome to the Dark Side !
Posted 10 October 2007 - 09:27 PM
OTIS.
#2
atlasshrugged
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- TT Patron+
- 4,409 posts
Member
Posted 10 October 2007 - 10:37 PM
More of the same boola.
Heard today on the radio.
No cost, no doc loans. Rates in the 5"s.
No W2's required. No pay stubs.
JUmbo loans in the 6's...not 8's as some advertise.
WTF happened here? Subprime continues unabated ?
Simply amazing.
those loans are for people with 700 plus fico's owner occupied
#3
pdx5
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- Traders-Talk User
- 9,529 posts
I want return OF my money more than return ON my money
Posted 11 October 2007 - 12:35 AM
The debt mountain just sprouted another branch...
CREDIT CARDS!!!
http://www.reuters.c...936312820071009
CREDIT CARDS!!!
http://www.reuters.c...936312820071009
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#4
blackcloud
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- Traders-Talk User
- 624 posts
Member
Posted 11 October 2007 - 08:19 AM
The debt mountain just sprouted another branch...
CREDIT CARDS!!!
http://www.reuters.c...936312820071009
With most credit card minimums (monthly payment) set to double in the near future, how do you think that will effect the American consumer??
#5
OEXCHAOS
-
- Admin
- 22,026 posts
Mark S. Young
Posted 11 October 2007 - 08:25 AM
There's a big difference between SAYING you do those loans and ACTUALLY writing them! 
On the flip side, chances are, if you NEED one of those loans, you ain't gonna get one.
Right here in town, you can get a stated income loan for UP TO 50% of the appraised value. All you need is a 720 score and some cash in the bank.
Such wild risk takers, those bankers...
On the flip side, chances are, if you NEED one of those loans, you ain't gonna get one.
Right here in town, you can get a stated income loan for UP TO 50% of the appraised value. All you need is a 720 score and some cash in the bank.
Such wild risk takers, those bankers...
More of the same boola.
Heard today on the radio.
No cost, no doc loans. Rates in the 5"s.
No W2's required. No pay stubs.
JUmbo loans in the 6's...not 8's as some advertise.
WTF happened here? Subprime continues unabated ?
Simply amazing.
those loans are for people with 700 plus fico's owner occupied
Mark S Young
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