The Implode Isn’t Just Affecting the Housing Industry

Filed under: Credit Crunch, Mortgage Industry Trends — admin @ 2:57 pm

Think only mortgage and homebuilding industries are affected by the current mortgage market situation? Think again. The effects just keep spreading.

For example, students in Massachusetts are being denied college loans due to the current market. As BlownMortgage reports:

“The Massachusetts Educational Financing Authority is unable to grant loans to college students this year as it is unable to secure financing due to the condition of the capital markets.  More than 40,000 college students will be locked out of financing for their college education due to the beating taken on Wall Street.

This is where it gets really unfortunate folks.  Taxpayers bear the burden of a Fannie and Freddie bail out while the companies can still pay out dividends, bear the burden of a Bear Stearns bail out, bail out irresponsible policy and practice and then be shut out of opportunity.  Can you imagine explaining to the parents of those kids that your child won’t get an opportunity at college because of the mortgage mess and their taxes will go towards bailing out those very same people who took away that opportunity?”

Click here to read the full post.

So how do we revive the market and restore investor confidence? Tony Garritano weighs in from the technology side here.

Stumble it!