Lending Information 4 You

Amanda P asked:


I am a processor for a mortgage company and just passed my test to get my license for actually writing loans. I am trying to get a little more educated before I’m on my own. Every website I find is tips for buyers or offers courses for $175 a class. I just want some basic information on lending principles and proceudres.

Lil Angel 68 asked:


Why is it so hard for qualified Black-Americans to get loans from banks and lending institutions?

Uncle Ant asked:


For the most part, they do not do business ethically, nor on any terms which aren’t designed to screw the consumer. This is one big reason the housing market is upside down these days. Should laws be made to regulate this problem?
My theory is that the brokerage market became more competitive in recent times as more and more people pursued that career. I also believe the new bankruptcy laws made banks more flexible, knowing they had more of an advantage if the consumer defaulted.
I read everything before I sign. Thus both of my homes are fixed for the next 30 yrs. My issue is that there seem to be an overwhelming amount of people recently who apparently haven’t “read” everything. In fact enough people that this is causing strain on the economy due to the housing market collapsing. Apparently many people aren’t educated these days when it comes to money, but then again I think the banks should take this into account when they go handing out loans, as this only comes back and hurts both them and the consumer later anyways.