Posted by PAW on 4/6/07 7:02am
Msg #183927

OT (sort of): Encouraging economic news

The U.S. economy will overcome a housing slowdown and avert recession, International Monetary Fund Chief Economist Simon Johnson said yesterday at a news conference in Washington, D.C. "The message here is reassuring. We do not think the U.S. is heading toward recession," Johnson said. So far, the problems in the U.S. housing sector haven't spread widely to other parts of the economy, which is an encouraging sign that its damage should be limited, he explained. "So we're not saying it's nothing. We are paying very close attention to it," Johnson said. "But we're not seeing it spread beyond residential construction."

You can read about it today's Economic Times. http://tinyurl.com/2m6qsx

Reply by Stamper_WI on 4/6/07 8:41am
Msg #183940

The other positive of all this

I heard part of a presentation by a mortgage brokerage company to some realtors the other day. they basically told the realtors that the 100% loans are still there but they are a lot more strict in qualifying the borrowers.
I see this as a plus if for no other reason than a decrease in unhappy, uneducated borrowers. I am hoping to see a lot more plain language disclosures to these borrowers. Fewer surprizes at the table and less questionable LO'S to deal with.

It also seems to be weeding out some of the less desireable SS's as well as partimer signing agents that take no time to educate themselves let alone treat this a serious business venture.

Reply by CHARLOTTE WILLIAMS on 4/6/07 2:54pm
Msg #183996

Re: The other positive of all this

I take offense to the part-time comments. I for one have spent a lot of time and money in trying to educate myself in this business. I addition to supporting some of the companies that are recommended in this forum I also try to gain knowledge wherever I can. I hope to one day go full time and I want to be the best that I can. So far my signings over 100+ have been sucessfully executed.

Reply by Dennis D Broadbooks on 4/6/07 3:29pm
Msg #184002

If You've Taken the Time...

...to educate yourself in this business then I see absolutely nothing in Zana's comment to take offense to. Her comments were directed to the vast numbers who don't research this business & as a result are woefully unprepared. If you're an exception to her comment...congratulations. Keep up the good work.

Reply by Stamper_WI on 4/6/07 5:17pm
Msg #184013

Re: If You've Taken the Time...

Perhaps i should have been more clear. I know many partimers that are serious about this business and most likely most here have other sources of income. I wasn't clear. Dennis did an excellent job of clarifying. Thank you Dennis! It is not a dig at partimers. Its a dig at those with an overdeveloped sense of entitlement and under developed common sense.