Comments on: This One Surprises Me http://www.azmortgageguru.com/this-one-surprises-me/ Mon, 20 Jun 2011 00:09:25 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Arizona Mortgage Guru » Blog Archive » Re-thinking Private Mortgage Insurance http://www.azmortgageguru.com/this-one-surprises-me/comment-page-1/#comment-470 Arizona Mortgage Guru » Blog Archive » Re-thinking Private Mortgage Insurance Thu, 09 Aug 2007 20:42:52 +0000 http://www.azmortgageguru.com/this-one-surprises-me/#comment-470 [...] sense to do an 80/20 loan instead of paying PMI. However, with the liquidity crisis spreading to second lien holders, obtaining a second loan instead of paying for PMI is no longer a slam [...] [...] sense to do an 80/20 loan instead of paying PMI. However, with the liquidity crisis spreading to second lien holders, obtaining a second loan instead of paying for PMI is no longer a slam [...]

]]> By: Shailesh Ghimire http://www.azmortgageguru.com/this-one-surprises-me/comment-page-1/#comment-456 Shailesh Ghimire Thu, 09 Aug 2007 02:37:37 +0000 http://www.azmortgageguru.com/this-one-surprises-me/#comment-456 David, Thank you for your thoughtful comments. It does appear that PMI loans will be making a return. Considering the fact that PMI is now also tax deductible and the recent proliferation of lender paid MI - second loan programs would have been facing stiff competition anyway. I guess I am just surprised at how fast the secondary market has dried up. Thanks, Shailesh David,

Thank you for your thoughtful comments. It does appear that PMI loans will be making a return. Considering the fact that PMI is now also tax deductible and the recent proliferation of lender paid MI – second loan programs would have been facing stiff competition anyway.

I guess I am just surprised at how fast the secondary market has dried up.

Thanks,
Shailesh

]]> By: David Porter http://www.azmortgageguru.com/this-one-surprises-me/comment-page-1/#comment-455 David Porter Thu, 09 Aug 2007 01:14:24 +0000 http://www.azmortgageguru.com/this-one-surprises-me/#comment-455 Shailesh, Don't worry about National City, they are sound I am sure. It is just that they rely on a secondary market to purchase the significant volume of 2nd mortgage loans that they originate. The secondary market for 2nd mortgage loans has dried up just as it has for sub-prime and Alt-A. I am not sure I understand what the previous commenter is saying but there is NO liquidity (secondary markets) for sub-prime, Alt-A, and second mortgage loans right now. The wise mortgage broker is going to brush up on niche' programs from Fannie/Freddie and FHA. You are likely to see a big rush back to PMI loans because of the drying up 2nd mortgage market. Those lenders (Mortgage Bankers) who are not banks are going to continue to have a VERY rough go. Their margin calls are putting them out of business. Shailesh,

Don’t worry about National City, they are sound I am sure. It is just that they rely on a secondary market to purchase the significant volume of 2nd mortgage loans that they originate. The secondary market for 2nd mortgage loans has dried up just as it has for sub-prime and Alt-A.

I am not sure I understand what the previous commenter is saying but there is NO liquidity (secondary markets) for sub-prime, Alt-A, and second mortgage loans right now.

The wise mortgage broker is going to brush up on niche’ programs from Fannie/Freddie and FHA. You are likely to see a big rush back to PMI loans because of the drying up 2nd mortgage market.

Those lenders (Mortgage Bankers) who are not banks are going to continue to have a VERY rough go. Their margin calls are putting them out of business.

]]> By: Bobby Joe http://www.azmortgageguru.com/this-one-surprises-me/comment-page-1/#comment-443 Bobby Joe Tue, 07 Aug 2007 19:37:50 +0000 http://www.azmortgageguru.com/this-one-surprises-me/#comment-443 Its a credit squeeze at this time. It will be a credit crunch in the coming days and weeks. There is a lot of liquidity on the street right now... too much. Its a credit squeeze at this time. It will be a credit crunch in the coming days and weeks. There is a lot of liquidity on the street right now… too much.

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