Mortgage Mania

I had to laugh when I read the line about mortgage lenders operating at “warp speed” in your Nov. 12 article on mortgage refinancing (“Refinance Boom Strains System”). In my several real estate transactions in California over the past 30-some years, I have experienced a consistent lack of interest on the part of the mortgage industry in double-checking paperwork, meeting deadlines, preventing easily avoidable delays, etc.

Here’s why I think they don’t care: The negative effects, if any, of the delays they cause are suffered not by them but by the buyers and/or sellers. If you really want to see warp speed, impose meaningful penalties on the mortgage-industry folks when they don’t deliver a properly done package on schedule.

Mike Mathews

Palm Desert