Sep

12

Housing lenders retreat

Filed Under mortgage, real estate, rocky mountain news 

Mortgage article from the Rocky Mountain News:

A third of home loans originated by mortgage brokers failed to close in August as investors shied away from riskier borrowers, a new survey says.

Read the full story: Housing lenders retreat

Is your rate too high? If you're looking to compare mortgage rates or to get a rate quote on a FHA loan start here


File this under: ,

Related posts

RELATED SEARCHES:

, , , ,

RELATED TAGS:

, , , ,

Comments

2 Responses to “Housing lenders retreat”

  1. Mark Edwards on September 13th, 2007 12:23 pm

    Most mortgage loans aren’t originated by brokers. They’re originated by the “big players.” So this article is more artificial than factual.

  2. philleto on September 13th, 2007 12:26 pm

    Mark,

    Thanks for dropping by. That is correct, most loans aren’t originated by brokers. It remains to be seen if the current credit crunch is a move by the mortgage industry to eliminate the brokers altogether. However, the 1/3 of loans not closing is a decent sample size. So the mortgage industry as a whole i.e. brokers, wholesalers, retailers, etc may have seen 1/3 of their loans not close.

Leave a Reply