Mortgage Investors Corporation Delivers Options for ‘Foreclosure Boom’

St. Petersburg, FL (PRWEB) March 27, 2007

The recent weeks and months of foreclosures and lending operation failures in the United States have eroded the American dream of house ownership much more so than at any time in recent history. That is if a single believes the headlines from across the nation and in mortgage business publications.

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“This is an completely shameful portrait of who we are in the mortgage market,” stated Bill Edwards, Chairman of Mortgage Investors Corporation. “We are far better than this. If you appear at the headlines about our industry, none of them are great. We can get this ‘foreclosure boom’ wrestled back beneath control, but it’s going to take some concessions.

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Edwards points out that the mortgage market should get manage of this scenario themselves due to the fact there is a genuine possibility that some may possibly get in touch with for government intervention resulting in new laws and regulations that restrict lenders’ flexibility to resolve the scenario.

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“If new regulations or laws are passed now, our industry can be sanctioned or regulated to an extent that will not help the home owners or the lenders,” Edwards mentioned. “We want to be capable to retain our flexibility to give options from the private sector–new, stiffer lending laws and regulations cannot help these currently in trouble.”

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What Edwards and MIC proposes are loan modifications and streamline refinancing as options to foreclosures for lenders. MIC provides lenders their solutions to handle the entire process–from the initial customer make contact with to finishing the loan modifications.

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“This ‘foreclosure boom’ isn’t just a subprime lending difficulty,” Edwards stated. “It really is as considerably a ‘real prime’ difficulty as something. The majority of these home owners are tough working Americans who nonetheless have their jobs, but their low interest adjustable rate mortgages are now getting reset to greater prices and their credit card debt along with the price tag of gas and oil have risen. The only point that hasn’t changed is their earnings. As an sector we have to appear at alternatives that can benefit both homeowners and lenders and we believe we can do that.”

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Edwards and his associates are also quick to clarify how they built the accomplishment of Mortgage Investors Corporation on a solid foundation of buyer service. Below his leadership MIC became the nation’s largest lender in the Veteran house loan business more than the previous 12 years.

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“We constructed our accomplishment a single consumer at a time and that’s what this foreclosure issue is going to take,” stated Edwards.

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For much more details about MIC go to http://www.mortgageinvestors.com.

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