Higher mortgage rates, part of the solution

Here is Shawn's first article - I'm publishing it for him since he emailed it to me but expect to hear more from him soon. By Shawn E. Wolcott I have been saying to my associates and co-workers in the mortgage industry for the last two years that higher rates are needed to save the industry. Yet the response I always got was ??are you kidding me?. you must be crazy?you?re nuts?? My rationale two years ago was simple: rates were far too low considering the layer after layer of risk that being packed into loans. A borrower who gets a high loan to value loan represents a higher risk to lenders, which is well known. But when you add into the equation lower credit scores, higher debt to income ratio?s, ARM loans, limited or no income documentation, and overall a lack of detail to