NOV 11, 2011
The Blog Stops Here

Keeping Us Honest

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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!

NO SURPRISE!

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.

Stan Banks
Super Financial
Eatonville
WA

MORE DATA PLEASE!

Story_Title: Mortgage Job Losses
Story_Date:  11/4/11
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?

S Gardner
Peoria IL 

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.

Colleen Reilly
Envoy Mortgage Ltd
Houston
TX

YOU FORGOT

Story_Title: Buyers Dread Mortgage Market Related Obstacles to Homeownership  By Amilda Dymi
Story_Date:  10/11/11
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.

Jim Curtis
Curtis Properties
Windsor
CA

UPDATE YOUR INFO
Story_Title: Executive Finds Demand for Rural Loans
Story_Date:  Tuesday, October  4, 2011
Story_id:    1026816
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!!

Traci Ramirez
Tri-County Mortgage Inc
Russellville
AR

Comments (3)
At last! Soemone with real expertise gives us the answer. Thanks!
Posted by EOOjWmItZDhyBPXsiQ | Sunday, December 18 2011 at 11:58AM ET
I'm impressed by your writing. Are you a professional or just very knwoedlgebale?
Posted by YxDrSzsfihynR | Wednesday, December 21 2011 at 1:27AM ET
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