How are you adjusting in the real estate industry with lenders falling?
As a Realtor it is hard to even trust that a deal will close now-a-days with the lenders going out of business and leaving buyers stuck out at closing. This has been a terrible experience for me. Here in Houston mortgage brokers and loan officers are hurting and some are even given up. As a Realtor I have other options but rearranging my structure and client base will take me a minute to start building back up. It would be interesting to know how others in the real estate industry are doing these days. As the mortgage shakeout forces dozens of home lenders into bankruptcy, some are merely going into something like suspended animation -- shutting down temporarily and hoping to escape intact once the crisis has run its course. Published 12:00 am PDT Sunday, August 26, 2007 The total volume of subprime loans nationally fell less than 4 percent in 2006, even as defaults and foreclosures were starting to spike, according to data compiled by Credit Suisse. Some big lenders never really did apply the brakes: New Century's loan volume was down a mere 1.3 percent through the end of February, or about two weeks before trading in the company's stock was suspended. Published 12:00 am PDT Friday, August 24, 2007 Former branch manager Heather Fern-Luzzi, foreground, and Heidi Freiberg clean up as the Roseville office of First Magnus Financial Corp. shuts down. As lenders cut back because of a credit crunch and slack housing demand, 13,000 mortgage jobs disappeared nationwide in the past week.
Asked By: Shannon J - 8/27/2007
Best Answer - Chosen by Asker
After all that babel about lenders and buyers that have committed to questionable loans and lending policies. What Is Your Real Question??
Answered By: Pobept K - 8/27/2007
Additional Answers (3)
Its a simple answer. Work with well qualified buyers who can use banks like bank of America, or wachovia. Use large banks who do not allow subprime, they will be staying in business for many years. If you have first time home buyers use your states program to get a loan. There are many ways around it, but the best is... More
Answered By: frankie b - 8/27/2007
Minnesota is experiencing some similar situations. My business has been pretty bad. My husband and I both work in the industry. We had been selling exclusively for a builder until a year ago. We saw the downturn in Sept 04 during the Parade of Homes here. We agonized over moving our licenses to a regional broker to... More
Answered By: DJ B - 8/27/2007
check this link its good http://buyingandsellingshares.blogspot.com/ .
Answered By: vani s - 8/27/2007
Over 371 New Local Jobs Hiring. Find Jobs and Apply Today!
$21/hr Start, Avg Pay $72K/yr No Experience Needed! Get Started.
Click. Search. Apply. Free!
New job opportunities added daily. Search & apply for DC jobs now.
Other Career Questions
What jobs are there in the business field that are night jobs? Places and job titles please. Im have a BA in Business Admin and looking for a night job, already have a morning/day job.
Enumerate these jobs Say, patent application writting. patent application writing. In a company, what jobs are needed to keep confidential?
Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.
Best-Paying Work-from-Home Jobs
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
2013 Engineering Jobs Outlook
Engineers will find job opportunities in select disciplines in 2013, with candidates who are all-around, client-oriented businesspeople in demand.
Best-Paying Jobs by Major
What could you earn with a particular four-year degree? Find out by checking out this list of the top-paying jobs for 20 of the most common majors.
Eight High-Paying, Secure Jobs
Want to earn a good salary and enjoy a measure of job security as well? Check out these well-paying jobs on tap for fast growth in the coming years.