additional comments on
"Maybe You Can Not Change A Zebras Stripes"

1. jp says:

   February 13, 2017 at 4:40 am

   There is a question though. Are the conv. to fha and fha to fha refis the same folks who bought in 2010-12? People who bought in 2010-12 had historically low rates and many of these folks had no incentive to refi later, at least based on rates. I don’t think the data tells us that unless I’m missing something there.

2. VANESSA V SIMMONS says:

   February 13, 2017 at 4:47 am

   Why is there no chart showing the decline in foreclosures over the past 7 years which shows the benefits of more information. You are not showing the complete picture.

3. Vanessa Simmons says:

   February 13, 2017 at 5:55 am

   Why is there no chart showing the decline in foreclosures over the past 7 years which shows the benefits of more information.

4. Bernie says:

   February 13, 2017 at 7:07 am

   Great call Frank and Brian

5. Russ says:

   February 13, 2017 at 7:13 am

   Great information. I did a little research myself and some of this could be contributed to the increase of FHA MI premiums, 2/27/2012, (monthly & upfront) and lower premiums on private MI companies. I would say some of the higher credit score clients would have refinanced out of their FHA loan to a conventional loan and the same with purchases due to lower PMI across the board on the conventional loan side of things. Clients with scores under 700 typically have very high MI premiums on the private/conventional loan side where FHA premiums would typically be more conducive for these clients.

6. Rick Smookler says:

   February 13, 2017 at 7:28 am

   Were there bad borrowers? YES. Where there bad lenders? YES. But at the end of the day, the crash was caused by credit default swaps and credit rating agencies who rated crap loans at A or B. If there weren’t credit default swaps and bad credit rating, there would not have been some of the ridiculous loans offered like pick your payment. Let’s put the fault where it belongs which is the crooks who literally stole millions and nobody went to jail.

7. Kirk says:

   February 13, 2017 at 7:31 am

   I’ve said this for the last 17 years… Some borrowers haven’t earned the right to own a home until they have gone through the pain of cleaning up their credit! If you give these folks a short cut they wont learn the skill needed to make home loan payments, Home repairs and general budgeting skills. Financial literacy is not a focus of our education system. Theses skills are self taught or something we learn from our parents.

8. Melinda Hipp says:

   February 13, 2017 at 8:49 am

   The middle chart says CONVENTIONAL to FHA……that would mean the people refinancing would have lower credit scores….was the chart done incorrectly?

9. Rochelle Gano says:

   February 13, 2017 at 9:39 am

   I know that my borrowers that were originally FHA loans did not refinance back into FHA loans. They refinanced out of FHA into Conventional because Conventional loosened their standards too. It was easier to get them approved Conventional and values increased enough where we could remove their MI all together. I think the charts are skewed because of that.

10. Richard Owens says:

    February 13, 2017 at 11:32 am

    As a title ins. agent who did more than his fair share of purchase and refinance transactions in the years leading up to the “great melt down”, my belief is that it was pure greed that caused the melt down. I saw many an eye get a twinkle when the credit card balances were paid off in that refinance transaction where they borrowed twice what they already owed. All of a sudden they could use those maxed out credit cards again. Not to mention the people who bought that huge McMansion, because they could afford that interest only or low interest at first adjustable mortgage. Very few actually took advantage of the low rates to shorten the term of their mortgage or just reduce their payment without taking out any of the equity in their home.

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