OK folks, It has finally happened... I officially have to much time on my hands... I have created a blog. The purpose of the blog is to offer a forum for my friends and colleagues to sound off regarding current and historical events... Sometimes the topics will be serious and other times it will be on the lighter side... Please keep your comments clean...
Today I am interested in your opinions regarding The recent downfall of the Sub-Prime mortgage industry... Whether you have been impacted in a positive or negative way let me hear from you... If you have no idea what the Sub Prime market is feel free to say so... If you are sick and tired of people and their blogs feel free to say so... the bottom line is this is a forum for your opinions!
Enjoy
Rod
"Victory has 100 fathers and failure is an orphan."
Unknown
4 comments:
I have been in the Financial services industry for 20 years and believe this is just another one of the many cycles we have gone through and will continue to go through far past my lifetime. To have continued unabted growth in any sector of the market without a downturn would ultimately cripple any economy. What we are seeing is just part of economics 101. My only hope is that it cleans out the people that were in that market that didnt have a clue as to what they were doing.
I have no idea what Sub-Prime Mortgage is even though my Dad has been in the industry for 30 years. Clearly I need to get it together!
I agree with Bryan regarding the fact that this is just the down side of the previous phase(been through two). I will be watching the economic market trends very closely so when that new wave comes in I will have my board ready to ride! Ebony don't feel bad, you have as much qualification as most of the loan officers in the industry right now!
Mortgage Press keeps looking for signs things of "hitting bottom," and therefore beginning to cycle back up. One they published last week was the announced acquisition of Option One by Cerberus, which owns majority interests in Aegis and ResCap.
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