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I think you're right in some cases. There are also certainly some legitimate and pretty big gripes to be made about the industry. But as someone in the midst o
by breischl 13y ago
I think you're right in some cases. There are also certainly some legitimate and pretty big gripes to be made about the industry.
But as someone in the midst of buying a house with some "interesting" zoning, I currently hate finance because I do understand it. :)
- NkVczPkybiXICG 13y agoZoning is politics, not finance.
- breischl 13y agoYes, but the zoning affects the insurability of the property and also whether it qualifies as "conforming" for the purposes of the mortgage. A non-conforming mortgage cannot be easily resold to Fannie/Freddie or securitized, so it's more difficult to get financing on a non-conforming property, which is why I've been wrangling with various lenders for a month. And the insurability questions meant that I got to spend a lot of time on the phone with insurance agents.