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captain amazing
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Niicss

Joined: 03 Oct 2005
Posts: 4770 Location: New Jersey
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gmakerley
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Joined: 09 Nov 2007
Posts: 12330 Location: bloomfield, ct
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dino_dsa

Joined: 23 Sep 2008
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gmakerley
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Joined: 09 Nov 2007
Posts: 12330 Location: bloomfield, ct
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Posted: Tue Sep 23, 2008 12:05 pm Post subject:
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my involvement with simple interest stems from a job i had in the mid 90s with a credit union.
what people fail to understand, i am afraid, is that the mortgage market is homogenous. in order for a company/bank/lender/what have you to be involved in the market and to make marketable loans, the systems must be compatible across the board.
if a mortgage lender decided to go ahead and jump on the simple interest bandwagon, i suspect that lender would get awfully lonely awfully quickly.
as for profits, there is little profit for a lender in the interest rate. what is profitable is being able to market the loans, to service the loans; and, of course, fees that are collected in conjunction with the making of the loans.
i tried to be concise here, dino...i hope this answers your questions sufficiently. _________________ George M. Akerley
Independent Contractor - Mortgage Consultant
Word of Excellence Editing/Writing/Proofreading
860-221-5044
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meerkat
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