Government incompetence in lending guidelines fuel foreclosure crisis
Written by admin on May 1st, 2009. Filed under REO Network, bpo blog, foreclosed, foreclosure, homes, mortgage, mortgage crisis, reo, reo agent, reo blog, reo broker, reo hampton, reo hampton roads, reo listing, reo marketing, reo network agent, reo newport news, reo service, williamsburg, york county and tagged with alt-a, default, foreclosure, foreclosure crisis, government mortgage, guidelines, option arm, reo, REO Network.========================================================================
No end in sight for housing foreclosure crisis
Link above goes to an interesting article on “The Hill”. The Alt-A and Option ARM mortgage defaults are starting to happen
Troy Deierling, REO Network Agent
now. Predictions are that this will be bigger than the sub-prime fiasco we are just now emerging from.
One thing that is apparent, this new wave of REO property will be on higher end homes. It’s not fair but maybe this will get the government to finally do something substantive about the mortgage problem. I can tell you from experience that the bailout money going to the banks is not flowing out again in any meaningful way for buyers.
The Feds have done the usual over reaction as well and tightened down lending guidelines so hard that it is VERY difficult to get buyers qualified. Ask any mortgage officer or Realtor. Deals are falling apart all the time due to overzealous underwriting guidelines.
So, to sum up…. We have banks being given money by the government, the government issuing lender guidelines that make it difficult to lend the money and a housing market that continues to sink with growing foreclosures.
If buyers can’t get mortgages, this mortgage meltdown will not be over anytime soon.
Regards,
Troy Deierling, RDCPro, ABRM, Realtor
REO – BPO Division
EXIT Realty Deierling & Assoc.
Williamsburg, VA
|email| troy@ExitRealtyDA.com
|mobile| (757) 715-4793
|web| www.REOHamptonVA.com
|web| www.RealEstateWilliamsburg.com
|web| www.WilliamsburgBroker.com
“When did entering a REO listing in the MLS become ‘marketing’?”
Licensed in the Commonwealth of Virginia
©2009 Troy Deierling
RDCPro Designation Complete
Written by admin on April 27th, 2009. Filed under 757, 804, REO Network, area code, bpo, bpo agent, bpo broker, foreclosed, foreclosure, hampton, newport news, norfolk, poquoson, reo, reo broker, reo hampton, reo newport news, williamsburg, york county and tagged with Add new tag, asset management, bpo hampton, default, eustis, foreclosure, hampton, langley afb, monroe, newport new, reo, reo network agent, va, virginia, york county, yorktown.
RDCPro - REO Default Certified Professional
Well, it’s done. The second course of the RDCPro at defaultschool.com is done. ‘Advanced Evaluations’ was a bit more of a bear to get through. I am now officially an RDCPro Certified REO Professional.
Some agents are questioning the need or accuracy of a certification. Now, more than anytime, the Asset Managers need to know that the people doing the BPO’s and REO listings are actually qualified to handle the work. The industry is flooded with agents with little or no experience and no qualified supervision.
The REO network agents have been running business a bit loose. It’s time to implement certification and designations so that the CLIENT will have a Broker/Agent that will meet at least a minimum of standards.
I’ll report back if this actually leads to more business or not.
Regards,
Troy Deierling, RDCPro, ABRM, Realtor
REO – BPO Division
EXIT Realty Deierling & Assoc.
Williamsburg, VA
|email| troy@ExitRealtyDA.com
|mobile| (757) 715-4793
|web| www.REOHamptonVA.com
|web| www.RealEstateWilliamsburg.com
|web| www.WilliamsburgBroker.com
“When did entering a REO listing in the MLS become ‘marketing’?”
Licensed in the Commonwealth of Virginia
©2009 Troy Deierling
