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(The Year 2012 In Review)
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|User Info||Oh Mr. Sheriffs -- GO GET 'EM!; entered at 2012-07-07 13:53:24|
Registered: 2009-02-28 DFW, Tx
Debtpie, I can tell you from personal experience, you can't hire morons to do loan packages. A good processor was $40K to $50K a year 25 years ago. You could get a loan processed for $250 to $300 in 1993, because I was in the business. Getting the 1003 filled out correctly and the package in order takes some brains. My sister has operated in the business for 30 years. Skilled help is expensive and hard to find. Despite the recent past, you are still packaging a marketable security. Maybe they have it down to where morons can do it. I seriously doubt it, especially if things have changed in the business toward quality control.