The View from here, October 2007

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The View from here, October 2007

Good Article this week from Marketwatch about foreclosure markets and their discount rates (It's a realty-trac rehash, but a pretty good one) You are not allowed to view links. Register or Login

See? Not so bad in Hood River after all.......

Market review shows flat growth in Hood River, and gains in surrounding markets. Same as last month, with slight signs of improvement. No one is in a bidding war, that's for sure, but there are still Buyers out there.....if they can get financing.

This Month's review showed signs of a bottom until Friday's Woes. I have, by the way, never EVER been through some of the kookiest requests from underwriters, ever.

They are rejecting appraisals, wondering why we don't have multiple exact comps in our rural areas, asking for demographic information, and some truly, overly personal information of my clients.

Basically, to me, that means there are alot of very scared people. Imagine being that scared, and having a quarterly sales quota to meet..........Not a job I want to be in. Wait a minute.......

New to the "woes bin" this month, after long avoiding the spotlight is none other than.....WAMU! Oh, and Bank of America!  It's interesting, it appears there has been ALOT of below the radar wrangling going on. I'm not sure the worst of it's over, especially after the Countrywide Mortgage Inquiry was launched. Please don't do a loan with Countrywide, they might not be there next month.......

US Bank and Wells Fargo seem to be holding their own, and I did a large loan with them about a year ago, and let me tell you, I NEVER handed in so much information, and that was back in January of 2007! Sounds like they sniffed out the problem and went for quality early on. and US Bank? The usual, highly detailed, Hyper accurate, as always.....They don't to too much morgtage work, but every Loan I've ever done with them has been, how shall I say it...."Fully Vetted"

So another 30 days! we made it! I think everyone can breathe a sigh of relief, even if it is as we go over the falls.....

Just kidding.

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