Brian Brady in the News
by: Brian.Brady on April 05, 2008 21:37:51 1 comment »
America's #1 Mortgage Broker, Brian Brady, was in the mainstream media this week:
The Voice of San Diego wrote a story about the housing doom, in San Diego. The tone was extremely pessimistic which excites the contrarian, value investor in me. I might be moving into the Dan Melson camp about the bottom being closer than we thought:
"Every day people ask me, 'Is it going to go down more?' and I shrug my shoulders and say, 'Maybe,'" said Brian Brady, a local mortgage broker with World Wide Credit Corp. and author of www.mortgageratesreport.com. "I'm just a lender. I tell them, 'When you know when the bottom's going to hit, give me a call.'"
The Associated Press wrote a story about tougher mortgage qualification standards and offesetting fees in the new "jumbo conforming" mortgages market. Forbes.com picked up the AP story:
'Qualification is tougher,' said Brian Brady, a managing director at World Wide Credit Corp. and author of MortgageRatesReport.com. The new requirements have pushed credit score requirements higher, Brady said.
'What used to get done at 640 now takes 680,' Brady said. 'It's had an influence.' Credit scores range between 300 and 850, with 850 being the best score.
Finally, Business Week wrote about the new Zillow Mortgage Bourse. I offered tenuous support, there:
Brian Brady, managing director at San Diego's World Wide Credit, a national lender and broker, said he signed up for the Zillow mortgage marketplace a few weeks ago and has mixed feelings about it.
Advice Needed?
He said it has the potential to be a great tool for both consumers and lenders. But he's concerned that borrowers will be seeking quotes without first getting advice from mortgage professionals about the loan that best fits their needs.
He's also concerned about the kinds of leads the site might generate.
"Zillow is going in the right direction, in that the consumer gets to rate us as [loan] originators," Brady said. "I certainly wish it were a mutual rating system because customers need to be rated, too."
· http://www.flmortgagereport.comBrian,
Congrats on hitting some of the biggest names in news!!!
I still have so much "catching up" since I took vacation, but things are getting back to normal. I hope all is going well with your business and from the looks of the quotes, you definitely are right on as usual.
Permalink April 10, 2008 07:45:10This post has no feedback awaiting moderation...