I admit I am tooting my own horn!

The local media did a story on mortgage fraud here in the Phoenix valley and I was interviewed for much of the material. Here is the link. Sad to say but Arizona was ranked 11th in fraud for 2006 by the Mortgage Asset Research Institute.

The industry has some work to do.

Here is a section of the local story:

Now his business is feeling the pinch of tightening lending guidelines resulting from the subprime market crisis. Last year, it would have been possible to qualify someone with a 580 credit score, but now we need a 620 score, he said.

“The last two months, I’ve seen guidelines change completely,” Ghimire said.

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