Posted by PA_Notary_II on 8/7/13 8:17am
Msg #479494
Collecting opinions..
If the Feds put Fannie and Freddie out of business, which was reported as a possibility on the news last night, what impact will that have on the mortgage business in general and our business in particular?
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Reply by 101livescan on 8/7/13 8:56am
Msg #479498
The event will be streamed live at Zillow.com/WhiteHouse and WhiteHouse.gov. Zillow CEO Spencer Rascoff will moderate the discussion.
Not able to catch it live? No problem. The conversation will be recorded and available on Zillow.com/WhiteHouse the afternoon of Aug. 7.
Well, the days of Camelot were wonderful, weren't they. What we'll be seeing is more tightening of the screws.
That being said, I'm aware of many LOs jumping ship from a major lender and starting their own mortgage brokerage company because they see the writing on the wall. Who knows, but interest rates are still low and we're in the buying/selling season, refinancing is mostly 7 and 10 year I/O arms. I'm no guru. I think we're going to be seeing a lot of changes in the coming months.
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