Gene Grounds is setting up this blog to give and get information and ideas on the mortgage business as well as low-income housing development.
The mortgage brokers have been singled out by the mortgage industry and the federal government as the bad guys for getting the housing market and the financial industry in bad shape. Actually, they were carrying out the wishes and directives of the mortgage industry and the federal government. They provided the vehicle to carry out the programs established by the mortgage industry, and they did it in the most efficient manner. Too much of a good thing always invites problems, and they arrived. All the mortgage brokers need is a level playing field and they can provide the ability to contact, re-apply for, or refinance many of the problem loans. If the mortgage industry and the federal regulators can get their requirements organized the brokers will be able to implement much of the needed adjustments; faster, easier and cheaper.
Let’s hear some feedback on this and we can later bring in ideas about low-income housing opportunities.
