Stocks went down and pundits came out of the woodwork worrying about the meaning of parting remarks made by Federal Reserve Chairman Alan Greenspan last week at a Federal Reserve symposium held in Jackson Hole.
Whoa, did I hit a vein or what? You wouldn"t believe the names I got called when I wrote an article a couple of weeks ago disparaging the newly crowned queen of all mortgage loans, the Payment Option ARM. I also received plenty of emails telling me that they too, think these loans have no place in this business. As a mortgage lender for over 15 years I"ve seen it all -- or at least can claim to -- and I"ll typically get an email or two from consumers after they"ve read one of my articles. But the funny thing was that they were all from other lenders, or mortgage brokers.