Posted by ME/NJ on 6/19/08 1:12pm
Msg #252035

I think I lost one of my biggest clients

All because of the 2 UPS issues (I think)a few weeks ago. Not one job from them in 3 weeks, they say they are really slow but I had never been this slow with them at all.

I use to do 10 or more Citi HELOCs during the week and my last one was about 6 weeks ago. I know someone else does the work cheaper in my area(5 dollars a closing less)

Just makes me think are they that slow or did I lose them, if there is a problem they would call. I'm hoping it is because they are that slow out. The company laid off 100 people a couple a months ago and one of them was the head scheduler who I was close with.

Reply by CaliNotary on 6/19/08 1:17pm
Msg #252036

Citi HELOCS have all but disappeared

I wouldn't take it too personally

Reply by Lee/AR on 6/19/08 1:21pm
Msg #252037

Re: Citi HELOCS have all but disappeared

Read somewhere that Citi isn't doing any more brokered loans and that would only add to the general slowdown. I don't think it's personal, either. It's just the general market right now--and, sadly, probably for the rest of this year, if not longer.

Reply by MW/VA on 6/19/08 1:51pm
Msg #252048

It's not personal. HELOCS have dried up everywhere. The lenders aren't taking any chances these days on equity issues.

Reply by JohnnyB on 6/19/08 3:47pm
Msg #252084

yes, zilch on the helocs, haven't seen one in a long, long, long, long time

Reply by sue_pa on 6/19/08 5:41pm
Msg #252112

2 of my 13 appts. this week are lines of credit.

Reply by JanetK_CA on 6/20/08 12:14am
Msg #252171

I've seen a couple recently, too, but not many. They generally have pristine credit - and are among what appears to be the minority who still have equity left in their home. In fact, I've heard and read that some lenders are even calling back HELOCs for properties where the value has reduced to the point where there isn't enough equity left to cover the limit of the line of credit.

Reply by 101livescan on 6/20/08 12:43am
Msg #252173

The Feds loan money to lenders for 2%, lenders lend money to borrowers fro 6%....is that civil in these times...not to my thinking. Lenders aren't lending because people are cautious, wait and see. Meanwhile, they are cleaning up on credit card interest, bank charges, etc. I am jumped upon when I walk into my Wells Fargo Bank branch, can't do enough for me, but they can't lend any money right now because their U/W guidelines are IMPOSSIBLE for most of us.