Stamford, CT (PRWEB) August 22, 2007
John Sauro discussed the problems in the credit market and in the global economy on CNBC's "Squawk on the Street."
Mr. Sauro said, "We know that the liquidity right now is dried up temporarily due to the fact that mortgage-backed securities are having a difficult time being evaluated right now and also due to the attention that this market is getting. We have a lot of global institutions that buy these instruments and are using the negative speculation in this market to be able to buy portfolios at a discount. That's a bet against the U.S. economy and the American people and it's a bet I wouldn't make."
He went on to say. "We need to understand that this has to work itself out, that the economy is very strong, unemployment is very low, and that once these banks find other places to sell these loans that credit markets will come back into check."
Mr. Sauro said that there are solutions for homeowners who want to refinance, and for the credit market. He maintained that there should be more faith in the American market, and that it should welcome an expanding global economy.
North Atlantic Mortgage Corp. is a Stamford, CT based licensed mortgage banker, registered with the Connecticut Banking Department. It is a registered mortgage broker in New York, Florida and Massachusetts. The company is celebrating its 10th anniversary. North Atlantic Mortgage Corp. has made available to the public at no cost, copies of the informational report, "Sophisticated Jumbo Financing" which is a comprehensive primer on mortgage options. For a free copy, the public can call 877-794-5363.
The full interview may be viewed at North Atlantic Mortgage Corp. website http://www.NorthAtlanticMortgage.com or http://video.google.com/videoplay?docid=5846305619939951690