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Article: Why not try rural housing? There's another government loan program targeted at rural America that's worth a look for originators facing a slowdown. Here's a first-hand account from someone who is a big fan of the program.(Origination Strategies)
- Article from:
- Mortgage Banking
- Article date:
- February 1, 2004
- Author:
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Copyright informationCOPYRIGHT 2004 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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I'VE BEEN IN THE MORTGAGE LENDING BUSIness for 27 years. I've watched loan officers starve to death, declare bankruptcy with hardly anything to declare and borrow money from family and friends.
On the other hand, I've seen loan officers driving BMW sport coupes and living in beach condos with underground parking. These people, however, are few and far between.
If you are or ever were one of those eating out of a tin can at dinnertime, you could have survived--prospered even--had you known about a mortgage program that has more than $500 million in the kitty to hand out each year in all 50 states. Some states get more, some get less, but every state gets ...
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