Article - Easy Money: HUD to begin crackdown on lenders that finance too easily - Posted by Rosie(CA)

Posted by karp on May 20, 1999 at 18:44:09:

No you won’t make money off of this.
Neither will the lender, the borrower, the mortagge broker, the real estate agent etc.

If they are going to go this route as loans are seens as too risky, let’s just finish the job and SHUT FHA down.

Now, me as a lender? Ooooh, THAT would make me money…

karp

Article - Easy Money: HUD to begin crackdown on lenders that finance too easily - Posted by Rosie(CA)

Posted by Rosie(CA) on May 20, 1999 at 17:37:24:

“Easy Money: HUD to begin crackdown on lenders that finance too easily”

http://www.mercurycenter.com/svlife/realestate/top/harn515.htm

How can we make money off of this?
See ya,
Rosie

Re: Article - Easy Money: HUD to begin crackdown on lenders that finance too easily - Posted by phil fernandez

Posted by phil fernandez on May 20, 1999 at 20:22:43:

Hi Rosie,

My take on the article is similar to Irwin’s. As a matter of fact would Andrew Cummo even be the head of HUD if his last name was not Cummo. Did daddy get him his job?

Re: Article - Easy Money: HUD to begin crackdown on lenders that finance too easily - Posted by Irwin

Posted by Irwin on May 20, 1999 at 19:18:25:

This article is just another HUD press release where they pat themselves on the back and tell everyone how great they are. The HUD website is full of them - on every subject. If memory serves me, HUD has always had the power to “discipline” lenders who consistently make bad loans. This “new” program is nothing more than HUD boasting about planning to do a job it should have always been doing. As far as investor’s are concerned however, it might have a small negative effect on the number of future motivated sellers. But the real foreclosure “action” will be in the non-conforming market, not HUD/VA, for the forseeable future.