The sub-prime mortgage market is down from a high rate of foreclosures. These crises are the result of the increase of stated-income loans that borrowers can increase their real income in the documents. The problem is bigger than you think. In a loan, there are many partners involved, and each partner is to ensure that the loan is closed. A partial list shows mortgage brokers and loan officers, loan processors, mortgage company, account manager, bankProcessors, underwriters, title companies, surveyors and brokers. Everyone is there to make money, and no money, if the loan does not close for most parties, with the exception of the experts who make their money in advance. This explains why home loans is so difficult.
I want to emphasize that our economy is based on results, not the path. While a manager may view a series of loans over the rate of company, the High --The management is happy. We have a number of pass-oriented process management-oriented management. I have seen many mistakes in corporate America because the employee must demonstrate that the quantity rather than quality. This management culture has caused many problems for companies in the United States.
We should learn a lesson. Companies that survive are those that can make the difference between quantity and quality. Quality should prevail over quantity in ourEconomy. The collapse of industry giants in May many guides are good for the future of the mortgage industry. The survivors will be more cautious in the 'approving mortgage loans, and we see fewer attacks.
We must learn from our mistakes. We need to stop writing loans to borrowers who do not need the income. Let's practice our discipline, with the hope of a better market.
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