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Mortgage Sold.....

Discussion in 'Money & Finance Forum' started by VA49er, Nov 27, 2007.

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  1. Nov 28, 2007 at 11:29 AM #11
    vpkozel

    vpkozel Professional Calvinballer

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    I thought that your point was that it was risky. Which is not necessarily true.
     
  2. Nov 28, 2007 at 11:37 AM #12
    VA49er

    VA49er Full Access Member

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    Bills changed. Got a mailing telling me to make a check to Wells Fargo from now on. I do everything online so I'm not that worried about it, unless my payment doesn't post. I've heard horror stories regarding that.
     
  3. Nov 28, 2007 at 11:39 AM #13
    VA49er

    VA49er Full Access Member

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    Any loan is potentially risky, but if the underwriting is correct, the risk is managed and priced correctly.
     
  4. Nov 28, 2007 at 11:42 AM #14
    VA49er

    VA49er Full Access Member

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    Ya'll were talking about risky HELOCs?

    Wells sets aside $1.4 bln to cover loan losses

     
  5. Nov 28, 2007 at 7:49 PM #15
    49erpi

    49erpi Full Access Member

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    Yeah, and it is an aggressive move in this market but they have faith in the well qualified. I just opened a couple lines on 2 different properties, at no cost, just to have. The lines were high and the rates were surprisingly low.
     
  6. Nov 28, 2007 at 7:50 PM #16
    49erpi

    49erpi Full Access Member

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    Most lenders won't go past 80% right now unless you are willing to pay an extra point or 2, right?
     
  7. Nov 28, 2007 at 8:27 PM #17
    Southern_Yankee

    Southern_Yankee Full Access Member

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    wait till they fuck up your escrow...
     
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