[Eagles Talon IV]

"If you have poor credit, cannot document income, or looking for 100% financing -- it's tough sledding," says McBride.

THIS IS GREAT NEWS SINCE IT WILL GO A LONG WAY TO RESTORING CONFIDENSE IN THE MORTGAGE PRODUCTS BEING BUNDLED AND SOLD IN THE MARKET PLACE.

Sub prime loans for people with credit scores of 600 or less? Forget it. The standards have been tightened to the point that sub prime mortgages, 20% of the mortgage market last year, are a thing of the past.

A great reason for people to clean up their credit and take advantage of the rewards of a 770-825 credit score.

Also gone are a variety of products ranging from "no-money-down loans" with low teaser rates to interest-only mortgages that increase the amount owed to the lender over time.

All in all really good news. As I said previously, this will go a long way to restoring the needed confidence in the markets.

[Iwo Jima]

"Restoring confidence" in these mortgage products is a BAD THING. These are bad loans which never should have been made and would not have been made if people didn't think that they could cheat reality. If no one had confidence in these scams they would not have occurred.

These were "con" games which preyed on misplaced confidence.