Alternatives to Subprime: The www.mortgagegrapevine.com community debates what's next.(Discussion)

Oh [Shoot]: How long will companies remain open given the current volume dry up? As a recent casualty of a subprime closing I have been aggressively meeting and interviewing with companies to land an AE position. Without exception, every company out there has had a significant reduction in volume. So significant that one company I spoke with just changed their comp plan to retain AEs. AEs have seen their volume drop by at least 50% and in some cases as much as 90%. I know a few AEs whose automobiles cost more than double what last month's income annualized equals. I pity those whose lifestyle requires the income they enjoyed during 2004, 2005 and 2006, and there are a lot of them out there. Big houses, big cars, a Harley, house at the beach. Their version of fast food is carryout from the Outback. Some subprime companies have been touting their alt-A offerings but you know what, even the alt-A programs have had guideline and LTV changes. Offering alt-A products is not the solution yet many companies tell me alt-A is their salvation. The effects of today's dried-up volume trickles down to the underwriting, support office, secondary market employees as well as employees at every level and position. …