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A Reader Backs Interest-Only & Other Observations

RE: "QM Fails to Deter Bank from Offering IO Loans" RE: "QM Fails to Deter Bank from Offering IO Loans"

BRENT CALVER: I am glad that a major bank is stepping up and not running for the hills. As Karen Mayfield pointed out, these are safe loan products for customers (borrowers) that understand what they are getting. (Image: Fotolia.)

RE: "Face It: FHA’s the Only Game in Town for Subprime" RE: "Face It: FHA’s the Only Game in Town for Subprime"

FRANK PREVITE: Absolutely, right on. FHA is the only game for low-credit score borrowers. Unfortunately, the comments about stringent regulations [are] also true. We estimate that nearly 40% of all Americans will not qualify for a mortgage loan. (Image: Fotolia.)

RE: “Industry Still Attractive to New Salespeople" RE: “Industry Still Attractive to New Salespeople"

GARY HEINECKE: Sounds good when the average loan is 300k and much higher. Our average is low 100k. Been turning away anyone below this. All of a sudden too many companies telling us they will pay us 2.5% to 2.75%. (Image: Fotolia.)

RE: "Industry Still Attractive to New Salespeople" RE: "Industry Still Attractive to New Salespeople"

JOE: I'm not sure that I agree with the prediction that 2014 will see a drop in mortgage volume of 30% and 60% drop in refinance volume...Many, many industry analysts (do a Google search) are predicting an upturn. (Image: Fotolia.)

RE: “Wholesalers See Lots of Opportunities in QM Market” RE: “Wholesalers See Lots of Opportunities in QM Market”

(ANONYMOUS): The DTI will be the killer as there just are not enough qualified borrowers out there. Prices will drop until that underwriting threshold is met...This is what my 27 years "in the trenches" experience tells me. (Image: Fotolia.)

RE: “A Brave New World for Mortgage Servicers” RE: “A Brave New World for Mortgage Servicers”

JEFF: Yes, most borrowers know when their payments are due, but not all. One spouse might not know of a missed payment, as may other co-owners of property where only one of two borrowers is living in the home and supposedly making the payments. (Image: Fotolia.)