Originally Posted by Cptn. Howdy
exactly. the automated underwriting let you throw endless amounts of hypothetical scenarios until one of them broke through. it's weird though cause we always looked at Fannie/Freddie as absolute safe and guaranteed.
these 2 organizations that were established by the government and then got out of hand once privatized. yet everyone's saying to keep government regulation out of everyone's business...
...Just consider yourself lucky that you aren't in the business any longer. It gets tougher every day. My Jumbo pricing was over a point below market and we just bumped up to where everyone else is today. I had 3 Jumbo quotes out there on deals that I was going to get because of my pricing obviously. It was a great seller while it lasted. I only closed 650K last month and it was the tops in my entire group of like 15 originators.