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Mortgage Lenders, Loosen Standards

Discussion in 'General Appraisal Discussion' started by Randolph Kinney, Jul 29, 2005.

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  1. Randolph Kinney

    Randolph Kinney Elite Member
    Gold Supporting Member

    87
    Apr 7, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Mortgage lenders are continuing to loosen their standards, despite growing fears that relaxed lending practices could increase risks for borrowers and lenders in overheated housing markets.

    Novel loan products have helped fuel much of the run-up, which continues to defy expectations, as reflected in home-sales data released yesterday. Existing-home sales hit another record in June, up 2.7% from May's heated levels, according to the National Association of Realtors. Median home prices rose 14.7% from June 2004.

    Mortgage Lenders Loosen Standards
     
  2. Otis Key

    Otis Key Elite Member

    0
    May 15, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    New Mexico
    Can anyone say Credit Union, at least until they start this game as well?
     
  3. David R. Stevenson

    David R. Stevenson Elite Member

    0
    Dec 6, 2003
    Professional Status:
    General Public
    State:
    Tennessee
    I see - its class warfare - at least it "facists economic banking" - if your wealthy

    you get to drive up the price on everyone elses home by placing the financial

    institutions in a situation where the wealthy elite are allowed to bid up property

    prices to finance their lifestyles ......?

    tongue and cheek B)
     
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