It really doesn't matter if you are seeking to greeneasylife.com/refinancing refinance home loans in Oregon or you are seeking out California Home greeneasylife.com Mortgage Loans, you and the entire country have been affected by the shenanigans of a few very rich, very insidious and extremely unethical entrepreneurs in the banking industry.
The old saying goes if it seems like it's too good to be true; it's probably too good to be true. Although there are plenty of folks who the public can blame, I primarily focus on the lenders who offered such ridiculous loans and the insurers who had the audacity to insure them so the lenders would be covered in case a borrower defaulted.
Of these two groups the insurers were by far the more idiotic. It was one thing for a lender to concoct a lending program that would entice first time home buyers to enter the housing market with no or low down payments and inexpensive first year monthly payments. If they could lead such a borrower to bite, well - power to them. Of course there was a horrible insidiousness to these programs, because the lenders knew full well that most of these borrowers would not be able to pay their mortgage payments after the loans started adjusting.
Nevertheless, can the lenders be blamed? They were just providing a service to Wall Street who was interested in selling as many securitized bonds as they could get their hands on. Since Wall Street could get these mortgage bonds rated AAA, even though they weren't, even Wall Street could not pass up such a lucrative opportunity.
It's obvious now that the lenders, the executives on Wall Street, and the Bond Rating agencies were living on the edge of legality and ethical behavior, but the insurers, who looked at these products and told the lenders and Wall Street that they would insure these bonds against liability, in order to generate exorbitant profits in insurance premiums, were certainly past the point of ethical behavior and incredibly idiotic in their assumptions.
Either the insurers were too stupid to know or too greedy to care, but when the loans started to default and the foreclosures started to rise, the insurers were left holding a large part of the bag. Not only did their idiocy destroy the behemoth insurer AIG, but in the process put the world economy in the precarious place that it is in today.
Wall Street asked for the loans so they could create bonds by packaging them together and selling them to rich clients and countries. The Lenders were more than happy to provide the loans for the profits that they would receive. The Bond Holders were happy to rate the loans for the commission on each securitized bond they evaluated, and the Insurers were happy to insure the loans... wait a minute for the losses that they were sure to incur? That is where the logic breaks down and that is why I now deem the insurers the most ignorant of the groups involved. In this crowd of misfits, that is really saying something.
My name is Allen Sayble and I have been a loan officer since 2001. I specialize in hard to find loans through FHA and USDA for borrowers with less than stellar credit, or who want to borrow over 80% of their home's value. I also enjoy helping borrowers in sound financial positions. You have worked hard to keep your credit strong and keep your financial ship moving in the right direction. In return I will work hard to get you the best interest rates the industry has to offer. Although I am based out of Ashland, Oregon and can help you, mortgageconsumer.com refinance home loans in Oregon I am also capable of completing mortgageconsumer.com/california_home_mortgage_loans.html California Home Mortgage Loans. Please click on either of the links to visit my website to learn valuable information about the loan business, receive a FREE mortgage loan analysis and even a Free Credit Report. You can also contact me at 541-324-9623.
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