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Old 08-13-2007, 06:35 AM
877YouKeep 877YouKeep is offline
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Join Date: Jul 2007
Posts: 673
Default Foreclosures are affecting the Global economy

I am far from chicken little here but have you seen the market lately? Foreclosures in the US are actually having an impact on the World economy. Banks because of the lax underwriting and poor lending judgments have really negatively impacted the world economy. I was speaking to a buddy last night in England and he started asking questions about foreclosures and the world banking. I am far from an expert on the world bank and global economy but I see a negative impact on US economy which is now effecting the markets overseas.
I know politics have some affect on lending and economies but lets keep to subject Loss Mitigation, I am sure the admin of the site does not want people getting their panties wadded here about W and Clinton... here is an ice breaker, did you know that many of the companies that are teaching loss mitigation, ie. sales so they can do the loss mitigation work, are using techniques for loss mitigation from about 15 to 20 years ago? Let's get with the program guys. Here is one I had to laugh at, I paid xxx dollars to go into a loss mitigation office to see how it was run, not sure what that was all about but last time I walked through the doors I had to swipe my badge. If I forgot my badge I did not get in without my management approval not even a peer could sign me in at the guard station. There is no company that is going to let that happen I do not even think small servicer's will allow and they are not given permission to make judgment calls, delegated.
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