Great article. Thanks for the information and keeping up-to-date.

I've been doing a fair percentage of inner city loans where the homeowner has a high percentage of equity on a modestly priced home but lives basically on a fixed income. The requirement to pay at the door plus the 10% haircut on the PL plus the counseling fee make this a “no-go” for many of my clients. These are the people who most need the program because they have few alternatives. They are now being left out in the cold. LO's will now be forced to concentrate on more affluent borrowers and purchases.

It's just a delay. it's not going away. Time to get a job a Wells Fargo.

Just finishing up my pipeline…you want me to stop posting Critic?

Tim,

Not at all. It will be even more interesting to get the perspective of someone who was in the industry and decided to go to a different industry. So please do not stop your participation in RMD after 12/31.

Also please let us know after 12/31/ of course who that good authority is or some information that will allow to see the level of authority that person is. It is interesting that someone is making those kinds of claims whom you consider good authority.

Best of luck in your future endeavors!!

Critic,

I was not complaining about the 10%. Rumors are exactly that “Rumors” All I was asking that when they finally decide to implement the cut it would be nice if they gave us at least a 30 day notice so we can work with customers in the pipeline.