BOTBP: Carese Busby, GM, Compass Point Lending: “The Mortgage Crisis: Is The Sky Really Falling?”

This morning on my weekly radio show, “Business Off The Beaten Path,” I had the pleasure of interviewing Carese Busby, GM of Compass Point Lending. To listen to the entire interview, please click here.

On the show, Carese and I had an in depth discussion about the current crisis in the mortgage industry and how you can not only better prepare and educate yourself, but also navigate these unprecedented economic times.

Carese is a 2nd generation mortgage banker with 18 years of experience in counseling borrowers on the road to home ownership. A home is the largest investment most consumers make in their lives, and Carese shared her valuable insights about this important experience.

Some of the other valuable topics we covered were

• What is the difference between a mortgage banker and mortgage broker?

•  Why would borrowers/consumers come to you as opposed to going directly to their retail bank? Do they pay more less/get a better deal? 
• What do the terms, Interest Only, ARMS, 1st mortgage, 2nd mortgage, negative amortization mortgages mean?
• What distinguishes Carese and Compass Point Lending from their competitors or other mortgage professionals in approach and philosophy?
• State of the industry – what are we seeing, where are we going -what can consumers
• How does the Federal Reserve rate decision affect mortgage rates?
•  Can you still obtain a good loan for a purchase or refinance?

  To listen to the entire interview, please click here.