What do you experts in the mortgage field think? I'm curious to know. Even after all that happened I think I had a pretty good ride and I dont regret working in the subprime industry.
That's a tough call Shawn. My initial inclination is like John's, that it's over, dead and done. (By the way John, great to hear from you, and I'm so glad that you're doing well. It's wonderful hearing from the folks I worked with, and to hear that they've survived. I really do miss each and everyone of you...) But, back to the question... Like I said, part of me thinks it might be over, and maybe most of it is for the short term. But the reality of sub-prime is that it filled a need for many people, and not just in this country. A lot of folks who otherwise wouldn't have been able to, did gain home ownership. And, marketplaces are, for the most part, efficient in finding and addressing needs such as these. So... I tend to think it will be back, perhaps stronger than ever, but I suspect far more tightly regulated than it was. Who knows, you might see sub-prime companies holding the paper instead of bundling, securitizing and selling. Guess what I'm saying is that I think the industry might well come back, but I don't think it will be the same as it was in the past.
PS I'm not an industry expert in this, but I still support these remarks...lol.
