Posted by CurtNY on February 07, 2002 at 12:17:04:
Although I like your optimism unfortunately I think we’ll have more and more to worry about. Bank & Mortgage Companies are funny creatures, I know I’ve worked in the industry since college (some years ago ;-). They make rules and unfortunately many times the scope is too wide. EX: FHA and investors using 203K, some bad apples took advantage and tried to break the rules, guess what, no more FHA 203K for investors. Personally I don’t think its an issue because its too time consuming with all the paperwork, and creative investors know how to fund deals elswhere but you get the idea. I’m afraid this flipping issue is going to get out of control and create industry wide changes. Again not the end of the world as investors we just find solutions to problems, this is just another problem to get around but will throw many investors used to a certain system for a loop. Well just my 2 cents, best of luck.