Great batch of recent letters, adding detail to content we posted. These are all pretty self-explanatory. I can answer Mr./Ms. Gardner's question, though- the mortgage industry has retracted employment by 50% since the go-go years! That's a data point to reflect over!
Story_Title: Surprise: U.S. Home Ownership Rate Increases -- Slightly
Story_Date: Wednesday, November 2, 2011
Comments: How about a Headline that reads "Homeownership rate declines 3% from peak". No surprise.
MORE DATA PLEASE!
Story_Title: Mortgage Job Losses
Comments: The story noted that the overall reduction in this industry's workforce is 10% since September 2010. What is this industry's workforce reduction since 2007 or 2008?
BACK TO WORK
Story_Title: Brian Chappelle Nails It
Story_Date: Tuesday, October 11, 2011
Comments: There are certainly folks that need to be punished for years of abusing the process and their customers, but the proper way to punish them is through the courts. I think the old 80/20 rule applies - 80% of the abuse was created by 20% of the industry - yet everyone is now paying the price, including well qualified borrowers. Congress needs to move on to something else - there is plenty for them to do! - and allow the market to return to some sensibility.
Envoy Mortgage Ltd
Story_Title: Buyers Dread Mortgage Market Related Obstacles to Homeownership By Amilda Dymi
Comments: You forgot to mention in your article that sales are also down because of CLOUDED TITLE! Many foreclosures are now seen as illegal as the banks did not own the mortgages and investors could not be contacted. Title companies are resisting offering title insurance to these houses for good reason. Homeowners aware of the problem are avoiding foreclosed homes in CA and other parts of the country. It's the NEXT BIG PROBLEM in the real estate industry.
UPDATE YOUR INFO
Story_Title: Executive Finds Demand for Rural Loans
Story_Date: Tuesday, October 4, 2011
Comments: You need to update your info: as of 10-01-11 RD has reduced it's financed upfront guaranty fee from 3.5% down to 2.0% AND has added an annual insurance premium fee of 0.30% (similar to FHA MI - but RDs new annual fee runs for the life of the loan based on outstanding balance and never goes away). It's still a great option though!!
Tri-County Mortgage Inc