Commentary on the mortgage business:
Countrywide secures $11.5B loan to avoid bankruptcy.
Glad to see they are backing up expansion plans. Hopefully the Fed will let Fannie Mae and Freddie Mac expand thier portfolio so Countrywide can stay in business. They are a good company and one of the leading lenders.
Borrowers With Good Credit Are Paying Higher Rates
The funds are still there. I don't think the mortgage companies are going to stop lending to good clients. Even though there be more strick lending standards, the credit worthy customers are going to get loans. Good customers can negotiate a better rate. If a person has a 675 credit score, and good credit; go in and negotiate the best rate. The brokers are fighting for business so the customers have the power.
About Me
- Steve "The Sultan"
- I enjoy the challenge of expanding a company’s market through creative business strategies.
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