Titan’s Ruth Lee was featured in this month’s Secondary Marketing Executive explaining what the mortgage industry needs to do to solve the current warehouse lending liquidity crisis (“Market Insight: A DIY Approach to the Crisis”):
”Another new company in the warehouse sector is Titan Lenders Corp., based in Denver. Ruth Lee, vice president of sales, echoed [Jerry] Davis’ concerns by calling for a “grassroots” effort to unplug the warehouse lending logjam.
“The 2006-2007 market is very much gone,” she said. “If we, as an industry, are going to wait for glacial response from Congress or the Fed, I think we’ll be missing the boat. I think that we, as an industry, have a responsibility to fix the problem, because it doesn’t seem like there is any big watershed of interest coming about.”
Lee added that time is not the industry’s ally. “We are watching companies that are desperate today,” she said. “They need the warehouse line – it is a business-ending event. Right now, there’s not much out there.”
We will stay on the forefront of the discussions and keep pushing for necessary, intelligent action in this area. More updates coming!
