Comments on: The Death of the Option ARM and Negative Amortization http://www.azmortgageguru.com/the-death-of-the-option-arm-and-negative-amortization/ Home Mortgage Expert in Phoenix, Arizona Wed, 03 Dec 2008 23:35:02 +0000 http://wordpress.org/?v=2.6.1 By: Gary Miljour http://www.azmortgageguru.com/the-death-of-the-option-arm-and-negative-amortization/#comment-2307 Gary Miljour Wed, 02 Jul 2008 06:41:36 +0000 http://www.azmortgageguru.com/?p=934#comment-2307 Shailesh, You points are all valid. I commend you for warning others about this product back in 2005. I was never a huge fan of this product because the majority of my clients just did not fit into the savvy sophisticated borrower mold. About a year ago after the World Savings/Wachovia merger, I was approached by them to come work as a loan originator. The interview did not go well, when I told them I did not feel comfortable selling the product. They even paid bigger dividends to their loan originators for pushing this product. In the end I just did not see a fit with my business. Shailesh,

You points are all valid. I commend you for warning others about this product back in 2005. I was never a huge fan of this product because the majority of my clients just did not fit into the savvy sophisticated borrower mold.

About a year ago after the World Savings/Wachovia merger, I was approached by them to come work as a loan originator. The interview did not go well, when I told them I did not feel comfortable selling the product. They even paid bigger dividends to their loan originators for pushing this product. In the end I just did not see a fit with my business.

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