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Mortgage Broker News | 18 Mar 2013, 12:00 AM Agree 0
CAAMP’s CEO Jim Murphy has taken his crusade for regulatory change to the airwaves and television, beating the drum for an easing of restrictions on first-time homebuyers.
  • Paolo Di Petta | dipettamortgage.com | 18 Mar 2013, 07:43 AM Agree 0
    Really? CAAMP is pushing this again?

    The whole reason we got into this mess is extended amortizations. Extended Amortizations skew affordability, and a lot of people who are barely making payments are simply in homes they wouldn't have normally been able to afford, and houses that they overpaid for to begin with (since easy access to cheap money also increased competition).

    Besides, the market was already showing signs of peaking before the changes, not to mention, we our GDP shouldn't be as skewed by the housing market as it is. We can't simply be stuck in a cycle of endless homebuilding. Eventually something is going to give, and it's better that we manage it before it gets any worse than it already is.
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