Not only has the hard money sector revived (ever so slightly, but a revival is a revival) but it has a new trade group. Its name is The American Association of Private Lenders — and the group has even drafted a code of conduct for its members. (If only Roland Arnall, William Aldinger and other subprime 'mavericks' of yesteryear had thought of that.) Anyway, the story will be on the National Mortgage News website shortly. Meanwhile, new figures released by the Mortgage Bankers Association suggest the purchase money market could be picking up, but ever so slightly…
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