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Ben Bernanke - The FED - FHASecure - Where Is The Bottom?

BrokerIPTV  : We are talking Andy Jorgensen, president and owner of innovative capital. He has been in the mortgage lending industry for 24 years. Andy, tough couple of months for you guys? 

Andy Jorgensen: Lot of change going on in the industry right now, lot of consolidation, lot of interesting things happening. Its really comes down to credit, quality and stuff. Right now in many of mortgage back securities we have a lot of non performing mortgagers. People going into foreclosure, not making payments, you couple that with the lax credit standards that we have had that few of that recent housing boom across the country and what is come down to is that basically a lot of people have speculated in the past, the first few years of the housing boom people were able to get out of their problems basically, because values were increased near about sell their homes refinance do whatever they need to do to move on, move out of products if they got into trouble. Now, with the market being flat or in some places declining there is not those options

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