A while back I wrote a post about how the mortgage industry needs to turn back time, and now it appears the folks over at CNN Money and the Mortgage Bankers Association agree. Plus, some of them have a pretty dry sense of humor!

“You probably have a lot of loan officers who can’t spell FHA,” said Bibb.

Bibb and David Lowman, CEO of Chase’s Global Mortgage, which is a top 10 originator and servicer, said that during the go-go days of the housing boom, loan officers would steer home buyers with weak credit to subprime loans. And they would advise them to finance part of their down payment with a home equity loan.

Glad to know that professionals are offering continuing FHA support.

This entry was posted on Monday, October 15th, 2007 at 5:08 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.