Discussion on USA Home Loans - Wholesale

Schumpeter Reincarnate Joined: 24 May 2008 Posts: 46268

http://ml-implode.com/imploded.....02-02.html

Posted: Mon Feb 02, 2009 6:34 pm

The term "Mortgage Broker" will soon be a thing of the past.

Dud? Joined: 09 Jan 2009 Posts: 2

Translation...we advertised for terrible FHA loans....and got tons of them! Now we can't sell them after they are closed, HUD won't insure them, and we are still trying to figure out what an EPD means

You reap what you sow

Dud? Joined: 17 Feb 2009 Posts: 22

"The unprecedented liquidity problems that continue to plague the mortgage industry have caused USA Home Loans to indefinitely suspend its' Wholesale Operations"

[b]NO,try looking at your HUD default rate being 311.

the only thing that is a plague on the market is a company who continues advertising doing bad FHA loans and then wonders WHY they are closed.

The market just beat HUD to the same end.
the real problem here is why HUD takes so long; HUD says 200% is the limit and yet lets companies like this continue. [/b]