Underwriters Marching to Lenders’ Tune; The Next Generation of Borrowers; New Faces at the Closing Table; MBS Trading Margins
Posted To: Pipeline Press
Bernie Madoff's daughter-in-law, Stephanie Madoff, is changing her name. She says the Madoff name is tainted with scandal and she wants a name with less negative connotation. She will now be known as Stephanie bin Laden. But an underwriter is an underwriter, regardless of name. Lately I have been hearing from producers, some of whom are upset about the current lending environment, some not. But for a slightly different view of things, here is what one very experienced and knowledgeable underwriter wrote to me : "It used to be that we could 'underwrite' a loan and use common sense to navigate individual circumstances and actually make a decision that a loan was a good credit risk. Then DU and LP came along and gave us the laundry list that had to be followed. We were still able…(read more)